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 blocks

— NAFTA update: US and Mexico reach an agreement in principle; inclusion of Canada remains uncertain

Global

— The EU and Japan sign Economic Partnership Agreement

Americas

— Canada — Duty relief, duty drawback and remission available for Canadian surtaxes on certain US originating goods
— Canada updates trade compliance verification list
— Mexico — Mexico takes retaliatory measures against US imposition of steel and aluminum tariffs
— United States — US issues new steel and aluminum proclamations outlining potential relief opportunities for US importers
— US-China trade dispute escalates with punitive tariffs implemented on a total of USD360 billion of trade between the two nations

Asia-Pacific

— Japan — EU-Japan EPA and TPP change trade landscape for Japan
— New Zealand — New Zealand makes major changes to customs legislation with Customs and Excise Act 2018

Europe, Middle East and Africa — Côte d’Ivoire — Special authorization on transit and re-exportation of “sensitive” goods
— Italy — Italian Customs Agency clarifies implementing procedures regarding authorization to store energy products in third-party warehouses
— Uganda — Uganda introduces domestic tax exemptions for developers and operators in free zones
— United Kingdom — UK Government’s guidance on preparing for “no deal” on Brexit outlines indirect tax implications

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ATTACHMENT

Trade Watch for September 2018