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June 24, 2020

Trade Watch | Issue 2 2020

The latest edition of Trade Watch is attached below. Trade Watch is a regular communication from EY Global Trade that outlines key legislative and administrative developments for customs and trade around the world. Highlights of this edition include:


  • New Harmonized System 2022 edition: preparing for change
  • Why trade disputes are reshuffling supply chains and transfer pricing
  • Why the global trade function means more than moving goods from A to B


  • Brazil: Supreme Court rules the Siscomex fee increase unconstitutional and makes refunds
  • US-China trade tariff mitigation strategies remain critical for companies in turbulent times
  • USMCA: The United States, Mexico and Canada prepare for a 1 July entry into force of the USMCA — impact on the trade in goods
  • US: Court clarifies treatment of related party trademark royalties and payments for services
  • US: Court of international trade invalidates US Customs regulation restricting excise tax drawback
  • US: New country of origin reporting requirement on composite goods could have broad compliance and operational impacts
  • US: Sanctions agency highlights compliance essentials and high-risk industries with recent enforcement trends
  • US: Texas Supreme Court defers to US Customs determination of “activation” in foreign trade zone property tax dispute


  • China: Draft export control law and implications for business
  • Japan: Annual report on post-entry customs
  • Korea: Developments and changes to free trade agreements
  • Korea: Changes to the customs system
  • Malaysia: Open market value for excise duty purposes in the automotive industry
  • Philippines: Update on Post Clearance Audit and the Prior Disclosure Program
  • Thailand: Customs valuation implication of the new transfer pricing disclosure requirements

Europe, Middle East and Africa

  • EU: New tools to enforce rights in international trade and trade war countermeasures
  • EU: Revamp of EU Excise Directive
  • GCC: How to navigate global trade controversy and disputes
  • Saudi Arabia: Compliance with product conformity obligations now easier and faster
  • South Africa: The treatment of retroactive transfer pricing adjustments by the South African Revenue Service
  • UK: Brexit update


Trade Watch | Issue 2 2020