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:

Spotlight on changing trade block

— Agreement in Principle reached on EU-Japan EPA: Potential for wide-reaching tariff reductions
— Comparing the US, Mexico and Canada key NAFTA objectives for renegotiation
— Canada-EU Comprehensive Economic and Trade Agreement update: Delay in provisional implementation to autumn 2017 due to dairy, pharmaceuticals and ISDS disputes
— UK publishes proposals — for customs arrangements following Brexit

Americas

— Argentina — Update on Argentina's foreign exchange control system
— United States — Organizational changes limit a company's ability to claim FTZ exemptions
— Implementation of Customs Centers of Excellence and Expertise
— Recent OFAC enforcement actions for apparent violations of US sanctions demonstrate OFAC's broad jurisdiction

Asia-Pacific

— China — Public notice regarding the promotion of the integrative customs clearance reform on a nationwide basis
— China's new export control law
— Japan — Liberalization of customs declaration policy to start 8 October 2017

Europe, Middle East and Africa

— East African Community — Key takeaways for importers and exporters from the EAC Customs Gazette 2016/17
— European Union — Customs valuation under the Union Customs Code
— Gulf Cooperation Council — Saudi Arabian Tax Authority releases VAT Implementing Regulations for public consultation
— UAE Government publishes new VAT Law

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ATTACHMENT

Trade Watch for September 2017