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Today's Insights: Latest News of Import & Export
1. Canada imposes additional tariffs on Chinese electric vehicles and other products
The Canadian government announced that from October 1 this year, a 100% additional tax will be imposed on all electric vehicles made in China, including electric and some hybrid passenger cars, trucks, buses and passenger and cargo vehicles. This 100% additional tax will be levied on top of the 6.1% tariff currently levied by Canada on electric vehicles produced in China. In addition, the Canadian government plans to impose a 25% additional tax on steel and aluminum products imported from China from October 15 this year. The Canadian side said that one of the purposes of this move is to prevent trade diversion caused by recent actions taken by Canada's trading partners.
2. Turkey adopts new regulations on imported electric vehicles
On September 20, the Turkish Ministry of Trade set strict conditions for plug-in hybrid vehicles imported from China and other countries, requiring importers to have 20 authorized service stores in 7 different locations in its territory. The regulations will take effect in 30 days. This is another move by Turkey after restricting the import of electric vehicles in June this year. Analysts said that no importer can currently meet these conditions, which will put pressure on Chinese automakers. Turkey has previously imposed high tariffs on imported electric vehicles.
3. South Korea's mandatory disclosure of electric vehicle battery information On September 6, 2024, the South Korean government decided to force the disclosure of electric vehicle battery information and implement a series of other countermeasures to ease people's growing concerns about electric vehicle fires. According to the government plan, the electric vehicle battery certification system, which was originally scheduled to take effect in February next year, will be trial-operated in advance in October, which means that the government will conduct safety inspections on batteries before producing domestic and foreign electric vehicles. In addition to the battery capacity, rated voltage and maximum output currently required, electric vehicle manufacturers will also need to disclose key information about the battery, including battery brand and main components. In routine inspections of electric vehicles, inspection items will be increased to battery voltage, battery temperature, charge amount, etc., and inspection stations will be equipped with corresponding equipment and infrastructure as soon as possible. The responsibilities of electric vehicle manufacturers and charging companies will also be strengthened by excluding manufacturers who do not insure liability insurance from government subsidies and promoting legislation to force electric vehicle charging companies to purchase liability insurance. At the same time, the government will update the battery management system (BMS), which can detect and issue battery condition warnings in real time, and increase its use among drivers to better detect fire risks in advance.
4. Russia bans the sale of unlabeled light industrial goods
The Russian government's amendment to ban the sale of unlabeled light industrial products will take effect on September 15. The new measures involve product types including trousers, tops, skirts, dresses, sports jackets, blouses and shirts, sportswear and ski suits, coats, shawls, scarves and ties, and some other clothing accessories. Prior to this, if these products were produced or imported into Russia before April 1, 2024, they were allowed to circulate and withdraw from circulation. From this day, light industrial products will be subject to mandatory labeling.
5. Russia extends the simplified certification period for imported products to 2025
The Russian government has decided to extend the validity period of the simplified certification procedure for imported and domestically circulated products that comply with technical regulations and national standards to September 1, 2025, aiming to continue to reduce the burden on enterprises and reduce the risk of inferior products entering the market. It is reported that, from March 2022, goods can provide a declaration of conformity based on their own evidence through simplified procedures, avoiding lengthy laboratory testing, and winning six months for companies to confirm product compliance. In the context of sanctions, this measure has been proven to be effective, so the government decided to extend its implementation period to continue to promote trade facilitation and healthy market development.
6. Brazil raises import tariffs on 30 chemical products
In response to the appeal of the Brazilian Chemical Products Industry Association (ABIQUIM), on September 18, the Brazilian Foreign Trade Commission approved the increase in import taxes on 30 chemical products from the original minimum tariff rate of 7.6% to 20%, and the measure will be valid for 1 year. According to previous media reports, the association released data showing that the idle rate of domestic petrochemical plants in May this year has reached a historical high of 58%. In order to boost the local industry, the association asked the government to increase import tariffs on 65 chemical products.
Although the Brazilian government has only taken measures on less than half of the chemical products, the association believes that the effect will be "immediate", and domestic products are expected to return to 80% in the next few years.
7. Argentina cancels technical barriers to bicycle imports
The Argentine "Financial World" reported on September 12 that the Argentine State Secretariat of Industry and Trade issued Resolution No. 274/2024 in the government's "Official Gazette" on the 12th, abolishing relevant technical regulations on bicycle imports and canceling the relevant product manufacturer certification and product sample testing procedures. The Afghan government hopes to eliminate foreign trade technical barriers, simplify bicycle import procedures, stimulate the vitality of free competition in the Afghan domestic market, and promote a significant reduction in the price of bicycles in the Afghan domestic market.
8. Iraq strictly checks the import of electronic equipment
In mid-September, a large-scale pager explosion occurred in Lebanon. Iraq expressed its intention to strengthen border management to avoid any "infiltration" or security risks, especially in the import of "electronic equipment". According to the published communiqué, "The Ministerial Conference called on border ports to take all necessary precautions to avoid any potential infiltration."
The communique also called for "rigorous safety checks on imported products, especially electronic equipment, and ensuring that contracts are signed with reputable companies."
