The free trade agreement between China and Nicaragua was scheduled to take effect Jan. 1, China's Ministry of Commerce announced, according to an unofficial translation (see 2308310020). The ministry released the FTA's schedule of preferential tax rates, which includes zero percent tariff rates for Nicaragua's main exports, such as beef, shrimp, coffee and cocoa. The deal also sets out tariff quotas of 50,000 tons of sugar each year, with a duty rate of 15% beyond the 50,000 ton limit, while tariffs on Chinese exports to Nicaragua will be "gradually reduced and eliminated."
Exports to China
The Commerce Department published its fall 2023 regulatory agenda for the Bureau of Industry and Security, including proposed rules involving its export controls for semiconductors and semiconductor equipment.
The Committee on Foreign Investment in the U.S. is adding staff and becoming more active amid growing concern about China, Dechert said in a client alert.
China sanctioned American compliance risk advisory firm Kharon, a Kharon researcher and a researcher at the U.S.-China Economic and Security Review Commission in reaction to recent U.S. sanctions announced on Human Rights Day earlier this month (see 2312080026).
The Commerce Department clarified this week that companies can’t use Chips Act funding to invest in certain new semiconductor facilities in China and other countries of concern, saying some companies may have thought the rules blocked only certain investments in existing facilities.
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China objected to the EU’s launch of an antidumping investigation on Chinese biodiesel last week (see 2312200029), saying it “firmly opposes protectionist behavior that abuses trade remedy measures.” The country’s Ministry of Commerce said past EU trade remedy measures “have been repeatedly criticized" by trading partners, according to an unofficial translation of a Dec. 21 press conference transcript. The ministry said it “will pay close attention to the EU's follow-up actions.”
Four lawmakers are urging the State Department to sanction Chinese and Hong Kong officials who offered bounties for the arrests of five Hong Kong pro-democracy activists living abroad, including two in the United States.
USDA’s Foreign Agricultural Service this month issued new guidance for U.S. exporters who “continue experiencing difficulties” registering their manufacturing, processing and storage facilities under China’s Decree 248 (see 2309210011), which requires certain U.S. production facilities to meet new customs and registration procedures before their products can enter China.
Sen. Marco Rubio, R-Fla., is urging the Commerce Department to block exports of chip design software to China’s Brite Semiconductor, which reportedly offers chip design services to six Chinese military suppliers (see 2312130020).