Foreign trade event this week

Headline
Us and European ocean freight rates continue to fall
Import and foreign trade agency
As the transportation demand was less than expected, the overall freight rates of major routes such as the US line, the European line and the Mediterranean continued to fall. SCFI index of Shanghai Shipping Exchange and ncfi index of Ningbo Shipping Exchange fell for several weeks. Drury's world container index (WCI) freight rates of major routes fell across the board, with the US West, US East and Mediterranean routes falling by 3-5% weekly; The FBX global composite average freight rate index continued to decline (1 percentage point). It is particularly noteworthy that in addition to a slight increase of 0.1% in the eastern United States, freight rates in the western United States, northern Europe and the Mediterranean continued to decline.
At present, the freight rate of 40 foot high containers on the US western route is about $7000, which is nearly halved compared with that at the beginning of the year. The 40 foot high container freight rate on the US east route was around us $11000, down nearly 40% from the beginning of the year. The 40 foot high container freight rate of the European basic port route was about US $9800, down about 20% from April and may.
A freight forwarder of Southeast Asian routes and a freight forwarder of South African routes said that the current order volume of major routes fell to 70% to 80% of the normal level last year.
ocean shipping
The outbreak of container ships on the US west route has disrupted navigation
Recently, one's official website announced that one, a container ship deployed on the PS3 service, connects the west coast of the United States and ports across Asia. Before berthing in Busan on the way to China, some crew members were detected positive for covid-19, resulting in the interruption of navigation, and the service was delayed for about two weeks.
At present, one said that it had taken necessary measures to enable the ship to continue cargo operations in Busan. Efforts are being made to ensure that the ship meets the required covid regulations so that it can continue its voyage to China.
Now, the berthing date of the ship in Shanghai is expected to be around August 5, 2022, and there may be further changes. According to the PS3 timetable released by the line, there is usually only two days between Busan and Shanghai.
It is understood that the shipping companies with the same cabin are: one, HPL, HMM, YML, Zim, etc.
Up to now, the ship is on standby at Busan Port. The incident is expected to cause serious ship delays. In early June, the ship once docked in Yantian, and then went to Los Angeles and Oakland port in the west of the United States. The follow-up plan is to link up with Chinese ports such as Shanghai, Ningbo and Shekou. At present, it is expected to link up with Shanghai around August 5.
Kenya
Mandatory import certification
The Kenya anti counterfeiting authority (ACA) announced in its Announcement No. 1/2022 issued on April 26 this year that from July 1, 2022, any goods imported into Kenya, regardless of their intellectual property rights, need to be filed with ACA.
On May 23, ACA issued announcement No. 2/2022, extending the deadline for submission of compulsory filing to January 1, 2023. The filing of intellectual property rights will be handled through the integrated management system (AIMS) of the anti counterfeiting administration. This means that from this date, any person importing goods and the owner of intellectual property rights must file such rights with ACA.
Regardless of the origin of the goods, all enterprises must record the intellectual property rights of brand imported goods. Unfinished products and non brand raw materials can be exempted. Violators will constitute criminal acts and can be fined and imprisoned for up to 15 years.
After the successful filing of intellectual property rights, ACA will issue certification marks in the form of anti-counterfeiting devices. If it is found that there is no such anti-counterfeiting device, ACA may seize and destroy the goods.
Russia
Or the parallel import of some commodities will be cancelled soon
According to "russia-24" TV channel, Russian Deputy Prime Minister and Minister of industry and trade manturov said that the Russian government may soon cancel parallel imports of some goods. Manturov said that Russia allows parallel imports in order to "balance the market", but this is an "expedient measure". When the Russian market has sufficient domestic products, parallel imports of some goods will be cancelled soon.
Russian Prime Minister mishuskin said that it is very important to "collect relevant data on the current market share of domestic products" and "understand the growth prospects of this share". After understanding the market share, the Russian government can introduce relevant policies to replace the parallel import mechanism.
The Russian Ministry of industry and trade announced on May 6 this year that the parallel import mechanism will be launched from now on, and a list of parallel imported products will be approved, so as to protect the interests of Russian domestic consumers after enterprises from "unfriendly" countries and regions withdraw from the Russian market.
According to the information released by Russian legal information network, this list of parallel imported products includes cars and spare parts, cameras and cameras, medical devices, musical instruments, game consoles, cosmetics, furniture, bedding, household goods, chemicals, etc.
Russian President Vladimir Putin signed a law on June 28, which stipulates that parallel imports of goods into Russia are legal.
britain
The new VAT penalty policy will be implemented in 2023
Recently, the British government released the outline of the new deal, and the UK tax office will revise the rules on fines and interest of value-added tax from January 2023. In other words, the previous default surcharge (late fee) will be replaced by the new rules.
This reform has refined the punishment measures for late declaration, and the UK tax office will adopt a point system for this.
Every time the declaration deadline is missed, the enterprise will receive a late payment penalty. Once the penalty threshold is exceeded, the enterprise will receive a fine of ￡ 200. After that, each late payment will generate an additional fine of ￡ 200 and enter the compliance observation period of the corresponding period. The previous penalty can be cleared only if there is no late declaration in the compliance observation period and all taxes are paid. (that is, an enterprise will receive a fine of ￡ 200 if its quarterly report is fined more than 4 points, and an additional fine of ￡ 200 will be incurred for each late payment thereafter. The previous penalty can be cleared only if it is not late in the 12-month compliance observation period and all taxes are paid.)
For failing to pay taxes on time, the UK tax office has also put forward corresponding stepped penalty rules. In addition, the UK tax office will also charge late fees, and the interest on late payment is calculated at the Bank of England benchmark interest rate plus 2.5%.
U.S.A
Us importers have paid more than US $32billion in tariffs for Chinese products
Reuters reported on July 19 that while the Biden administration of the United States continued to consider whether to cancel some tariffs on China, a report released on July 19 showed that importers of technology products from China paid more than $32billion in tariffs imposed by President trump between mid-2018 and the end of 2021.
CTA said that about half of the $32billion in tariffs were paid for computers and electronic products produced in China. Data from the U.S. Customs and Border Protection Agency showed that as of July 13, the total amount of tariffs levied on Chinese goods under "section 301" was $145.43 billion.
The report said that just as the report was released, the Biden administration was trying to determine whether to cancel some tariffs in order to reduce the impact of high inflation on American consumers.
It is reported that despite the imposition of tariffs, the import volume of some consumer technology products produced in China in 2021 is still higher than that in 2017, indicating that the motivation of some enterprises to "leave China" has weakened. These products include digital cameras, some cooking utensils and floor sweeping robots.
raw material
The global economic slowdown led to the decline in raw material prices
According to Yonhap, recently, the price of raw materials, which has been high, began to fall sharply. The analysis said that this was due to the combination of factors such as the slowdown of China's economic growth, the implementation of monetary tightening policy in the United States, the conflict between Russia and Ukraine, and the COVID-19, which led to a reduction in global demand.
According to the industry and South Korea resource information service, based on July 15, the price of nickel, the core raw material of electric vehicle batteries, was $19333 per ton, down more than 18% from $23700 at the end of June; Copper used in electronics, electric power, automobile, construction and other industries fell from US $10730 per ton in March this year to US $7000; Aluminum fell from US $3984 per ton in February this year to US $2320; Iron ore fell to $104 per ton from $144 last month.
Lee Chung Hee, a professor of economics at Central University in South Korea, said that the slowdown in the world economy led to sluggish demand, which led to a decline in raw material prices. The reduction in export demand will lead to a decline in exports of Korean enterprises.
policy
Jiangsu has introduced 12 measures to promote the stability and quality of foreign trade
The Jiangsu Provincial People's government held a press conference on July 25 to interpret the "several measures on promoting the stability and quality improvement of foreign trade" (hereinafter referred to as "several measures") recently issued by the general office of the provincial government.
At present, high global inflation, the continuation of the Ukrainian crisis, wide fluctuations in the RMB exchange rate and other factors have exacerbated the uncertainty and instability of foreign trade. Enterprises are still facing many difficulties, such as insufficient orders, poor logistics, rising comprehensive costs and so on. In the second half of the year, there is still great pressure on the steady growth of foreign trade.
The "several measures" put forward 12 specific measures from four aspects: promoting the smooth flow of foreign trade, helping foreign trade enterprises grasp orders and expand the market, stabilizing the supply chain of foreign trade industry chain, and increasing fiscal, tax and financial support.
Full text of the document:
http://www.jiangsu.gov.cn/art/2022/7/22/art_84418_10549965.html