Major foreign trade events this week

Headlines
The central government sets the economic outlook for 2024 and sends important signals
The Central Economic Work Conference was held in Beijing from December 11th to 12th. The meeting set the tone for economic work in 2024, emphasizing the need to adhere to the principle of seeking progress while maintaining stability, promoting stability through progress, and prioritizing establishment before breakthrough next year, sending important signals.
The meeting emphasized the expansion of high-level opening up to the outside world, with a lot of emphasis on the deployment of foreign trade work, and pointed out that "we should accelerate the cultivation of new momentum in foreign trade, consolidate the basic foundation of foreign trade and foreign investment, expand intermediate goods trade, service trade, digital trade, and cross-border e-commerce exports."
"The directionality of the new momentum is very clear," said Bai Ming, Deputy Director of the International Market Research Institute of the Research Institute of the Ministry of Commerce. Currently, China's foreign trade development is facing a series of pressures and requires endogenous impetus to overcome external pressures. The market for intermediate goods trade is relatively broad on a global scale, and intermediate goods are the products most closely related to the industrial and supply chains. With the transformation and upgrading of China's manufacturing industry, China has become a key node in the industrial and supply chains, which can achieve competitive advantages. At the same time, whether it is the development of related manufacturing industries in China or other countries, intermediate goods are needed, and locking in "expanding intermediate goods trade" will increase China's trade opportunities.
policy
Notice on Several Measures to Accelerate the Development of Domestic and Foreign Trade Integration
On December 11th, the General Office of the State Council issued the "Several Measures to Accelerate the Development of Integrated Domestic and Foreign Trade" (hereinafter referred to as the "Several Measures"), which proposed 18 measures from five aspects: promoting the connection and integration of domestic and foreign trade rules and systems, promoting the integration of domestic and foreign trade market channels, optimizing the development environment of integrated domestic and foreign trade, accelerating the integration of domestic and foreign trade in key areas, and increasing fiscal and financial support, To accelerate the integration of domestic and foreign trade development.
Full Notice:
https://www.gov.cn/zhengce/zhengceku/202312/content_6919597.htm
EU
Or prohibit or restrict the use of polyvinyl chloride (PVC) and its additives

Recently, the European Chemicals Administration (ECHA) released a survey on the potential risks of polyvinyl chloride (PVC) and its additives to human health and the environment. The results show that some substances added to PVC, such as plasticizers, may pose a threat to humans and the environment.

In order to limit the use of these additives and reduce the release of PVC particles, ECHA will take corresponding measures to achieve the goals of the EU plastic strategy and respond to the EU's commitment to "reduce plastic pollution" under the United Nations Environment Programme (UNEP).
At the request of the European Commission, ECHA conducted an investigation into the potential risks of PVC additives and PVC itself to human health and the environment, while considering possible alternative solutions and evaluating the social impact of potential risk management measures.
The ECHA survey focused on 63 types of PVC additives, including plasticizers, heat stabilizers, and flame retardants.
Through analysis of the materials used in the production of PVC resin, production processes, waste disposal, and exposure to PVC dust, it is believed that the risks of PVC resin have been fully controlled for workers and the environment under current operating conditions and company safety measures. However, the following regulatory actions still need to be taken:
Minimize the risk of plasticizers, especially phthalates, which can affect the reproductive and/or endocrine systems. Further REACH restrictions and controls may be implemented in the future.
Reduce the risk of heat stabilizers such as organotin compounds (except for MOTE with a DOTE concentration below 0.3%), which may cause developmental abnormalities and reproductive hazards. Further REACH restrictions and controls may be implemented on these substances in the future, and the ECHA authorities are also considering comprehensive regulation in conjunction with other regulatory measures.
To reduce the emission of flame retardants, please refer to the recommendations in the Regulatory Strategy for Flame retardants of ECHA.
Implementing and improving technologies that can reduce PVC particulate emissions, especially in recycling facilities and landfills. The release of PVC particles can cause plastic pollution, and these particles may also contain harmful additives. Reducing the release of PVC will correspondingly reduce the emissions of these additives.
ECHA has submitted the investigation results to the European Commission and will decide whether to formally prepare the REACH restriction proposal after the commission evaluates it. Once put on the agenda, it will have a significant impact on the global PVC industry.
Before the official release of regulatory measures, it is suggested that relevant enterprises can self check the harmful additives in PVC products exported to Europe and the supply chain, so as to find green alternatives in time and adjust the industrial layout in advance.
Canada
Initiate the first double anti sunset review investigation on cold-rolled steel coils/plates related to China
On November 14 and 15, 2023, the International Trade Court of Canada (CITT) and the Canadian Border Services Agency (CBSA) issued separate notices to initiate the first anti-dumping and countervailing sunset review investigation into cold-rolled steel coils/sheets (Cold Rolled Steel) originating from or imported from China, South Korea, and Vietnam. Stakeholders should submit the survey questionnaire for this sunset review before December 21, 2023. The Canadian Border Services Agency will make a final ruling on the sunset review investigation no later than April 12, 2024. The Canadian customs codes of the involved products are 7209.15.00.00, 7209.16.00.00, 7209.17.00.00, 7209.18.00.00, 7209.25.00.00, 7209.26.00.00, 7209.27.00.00, 7209.28.00.00, 7209.90.00, 7211.23.00.00, 7211.29.00.00, 7211.90.00, and 7225.50.00.00.
Mexico
Continue to suspend anti-dumping duties on ammonium sulfate related to China
On November 24, 2023, the Mexican Ministry of Economy announced that, considering the conditions that led to the previous suspension of measures still exist, in order to balance the impact of inflation and avoid a decrease in household consumption, anti-dumping duties on ammonium sulfate originating from China and the United States, regardless of import sources, as well as ammonium sulfate mixtures originating from China and regardless of import sources, will continue to be suspended for a period of one year.
Germany
The export prosperity index improved in November
Reuters reported that a survey released by the Ifo Institute of Economics showed an improvement in confidence among German exporters in November, with export expectations rising from negative 6.3 points in October to negative 3.8 points in November. Klaus Wohlrabe, Chief Economist of Ifo, said, "German companies have not yet benefited from the economic recovery of other countries."
The research report states that the food industry and clothing manufacturers expect exports to increase, the automotive industry expects exports to remain stable, and mechanical equipment and electronic product manufacturers expect international orders to decline.
Korea
Next year, we plan to lower tariffs on 76 types of goods
According to Yonhap News Agency, in order to strengthen industrial competitiveness and reduce the price burden, South Korea will lower tariffs on 76 types of goods next year. The Ministry of Planning and Finance recently released a legislative notice for the 2024 Regular Flexible Tariff Plan, which includes the above content. After relevant procedures, it will be implemented from January 1st next year.
In terms of enhancing industrial competitiveness, the main products involved include quartz glass substrates, lithium nickel cobalt manganese oxides, aluminum alloys, nickel ingots, dispersed dyes, feed corn, etc.
In terms of stabilizing prices, quota tariffs are applied to processed foods such as potato starch, sugar, peanuts, chicken, and eggs, as well as LNG, LPG, and crude oil.
Adjustment tariffs will be applied to 13 types of goods. Adjusting the tariff system refers to the system of raising the basic tariff rate to 100% when the increase in imports of specific goods may disrupt the domestic market or lead to the collapse of the industrial foundation.
In addition, the scale of special emergency tariffs applicable to agricultural, forestry, and livestock products has increased, taking grain as an example, from 464422 tons to 6549.95 million tons.
Korea
Revision of the Implementation Rules of the Special Law on the Safety Management of Imported Food
The website of the National Legal Information Center of South Korea recently issued Prime Minister's Order No. 1918, revising the implementation rules of the Special Law on Import Food Safety Management. Effective from December 14, 2023. Main content:
(1) We have established a basis for extending the registration validity period of foreign production enterprises and excellent import enterprises, and submit applications 60 days before the expiration of the registration validity period; Allow the lifting of import suspension measures based on on-site inspections of foreign enterprises; The original registration renewal validity period of foreign production enterprises and excellent import enterprises has been changed to an extension;
(2) Define imported food that does not require import declaration as imported food carried by passengers or used by international mail or express delivery for personal use; To prevent damage, loss, and forgery of commercial certificates for imported food, the original commercial registration certificate must be submitted in electronic form instead of the original one.
For more details, please refer to:
https://www.law.go.kr/lssc.do?menuid=1&submenuid=23&tabmenuid=121&query=#eundefined
Armenia
Actively promoting tax exemption policies for electric vehicle imports
In 2019, Armenia approved the exemption of import value-added tax on electric vehicles before January 1, 2022, followed by an extension until January 1, 2024, and a further extension until January 1, 2026. Thanks to the exemption of value-added tax and tariffs, the import volume of electric vehicles in Armenia has significantly increased. In 2022, Armenia imported 2681 electric vehicles, a year-on-year increase of 42.3%; From January to November 2023, there were 4496 imported electric vehicles, doubling year-on-year.
From 2021 to 2022, Armenia has 100 charging stations operating in Asia, capable of simultaneously charging 150 electric vehicles. It is reported that Armenia plans to replace all government vehicles with electric vehicles, and the relevant work plan is currently being formulated.
Indonesia
The influx of imported goods has impacted Indonesia's local plastic industry
According to Indonesian media reports, the influx of imported goods has led to a 50% decrease in productivity in Indonesian plastic factories. The demand for plastic in the market is actually stable, but local factories have reduced production by 50% and have maintained a very bad trend since 2022.
The Secretary General of the Indonesian Olefin, Aromatic, and Plastic Industry Association urges the government to strictly control the influx of imported goods into the domestic consumer market. He hopes that the revision of import policies and regulations by the Ministry of Trade can be completed and signed this year, so as to control the influx of imported goods into the domestic market. The principle of fair competition of goods must be implemented.