The latest edition of Trade Watch is attached below. Trade Watch is a quarterly communication prepared by Ernst & Young's Customs & International Trade Practice. Highlights of this edition include:

Global

— Technical Committee on Customs Valuation approves case study on transfer pricing
— Technical Committee on Customs Valuation fails to reach resolution on application software case

Americas

— Brazil — New RECOF modality expected to attract more companies
— Canada — Dairy supply management in Canada and the challenge of diafiltered milk imports
— Colombia — Colombia adopts new customs code
— Colombia — Changes to the Authorized Economic Operator request procedure
— Mexico — New benefits under the Strategic Bonded Warehouse customs regime

Asia-Pacific

— China Customs makes major amendments to the Declaration Requirements for Import/Export Entry
— China amends import tax policy for cross-border B2C business
— Japan — 2016 Reform of Customs Law and other relevant laws

Europe, Middle East and Africa

— East Africa Community — South Sudan confirmed as member of the East Africa Community
— Uganda's NTB reporting system to help eliminate non-tariff barriers to trade
— Russian Supreme Court rules on customs valuation
— Turkey — Resource Utilization Support Fund issue in "cash pooling" applications

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ATTACHMENT

Trade Watch for June 2016