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Starting this week, we will no longer include export controls and sanctions updates in this update. However, we are excited to announce the launch of a new magazine called "The Export Controls & Sanctions Manager". This magazine will provide the latest updates on export controls and sanctions in the form of a blog entry every Tuesday morning at 6 a.m, delivered to your inbox, at no extra cost. Our aim is to avoid overloading this update with specialized content, while still providing our readers who are interested in this topic with the attention and information these important topics deserve. We hope you find this change beneficial, and we welcome your feedback. Period covered 15.10.2023-22.10.2023 Content Highlight Reads of the Week A Anti-Dumping Duty Updates Authorised Economic Operator (AEO) Updates C CBAM - The Carbon Border Adjustment Mechanism Updates Classification Updates (Customs) - HS Customs Updates Customs Declaration (+ CDS) - Updates Court Cases and law changes D Due Diligence Updates Duty-Free (and duty reliefs) Updates & Simplifications E E-Customs Updates Export Controls Updates F Free Trade Agreement Updates N Northern Ireland Trade Updates Novice ("Help" I am New to Customs & Global Trade") - the column for newbies O Origin (Rules of) S Sanctions SME (Updates specifically for small & medium enterprises) T Transit V Valuation (Customs) Veterinary Border & SPS control updates W World Trade Organisation Updates (WTO) What to do if I have questions regarding these updates? Invitation to join "The Customs Manager LIVE!" - our weekly show On YouTube Sources Unlock all exclusive posts and make sure you stay fully up-to-date. Access Our NEW FAQ to answer all your questions: https://www.customsmanager.info/plans-pricing Highlight Reads of the Week EU-U.S. Summit: Trade Stalemate and Tariff Impasse Discover the latest updates from the EU-U.S. Summit on trade, as the two powerhouses struggle to find common ground on tariffs and critical minerals. https://www.customsmanager.info/post/eu-u-s-the-no-progress-summit Anti-Dumping Duty Updates An anti-dumping duty is an extra import tariff imposed on top of the standard customs duty and applicable throughout a customs region. Its purpose is to enable countries to take action against the sale of goods at a price below their usual value, which is determined as the cost for similar goods sold in the exporter's domestic market. Check out our exclusive blog section on Anti-Dumping Duty for the most recent updates, informative articles, videos, and news. https://www.customsmanager.info/all-news/categories/_add ⇒ EU EU: Latest ADD & CVD cases Access the latest anti-dumping duty updates issued by the EU. Updated weekly. Date of latest update: 23.10.2023 https://www.customsmanager.info/post/eu-latest-add-cvd-cases ⇒ UK No update noted Authorised Economic Operator (AEO) Updates Please also refer to our constantly updated collection of articles, guides on this topic etc: https://www.customsmanager.info/all-news/categories/aeo No updates this week Top Tip: Schedule a call with us to discuss how we can help you become or maintain AEO in the EU, UK, or US. www.customsmanager.org -> Book Expert Call CBAM - The Carbon Border Adjustment Mechanism Updates 1) CBAM: Essential Documentation for Professionals We have moved all the key documents to a separate page for ease of access. Promptly access the required documents for professionals in the field of CBAM, including: CBAM - Our business guide CBAM: Factsheets Per Product Group + Importers Checklist CBAM: Transitional Period Law CBAM: Support Guides, Templates, Fact Sheet, FAQs etc. CBAM: Help Preparing Your First Report by 31 January 2024 CBAM: National Authorities Published https://www.customsmanager.info/post/cbam-essential-documentation-for-professionals Top Tip: Next CBAM Training on 3 November 2023 Fri, 03 Nov | Virtual Training Event Course: CBAM & Practical Implementation in Companies This course develops the competencies that professionals need to deal with all aspects of CBAM - the EU Carbon Border Adjustment Mechanism, including how to calculate carbon, apply for certificates, and how to set up CBAM conform procedures (Course ID: E-FA 11) https://www.customsmanager.org/event-details/course-cbam-practical-implementation-in-companies-2023-11-03-12-00 Classification Updates (Customs) - HS When transporting goods across borders, it is crucial to determine the customs tariff positions accurately. This is a fundamental requirement for submitting a correct customs declaration. Applying an incorrect tariff number can result in increased import duties, not just for your company but also in terms of bans and restrictions, obtaining licences and permits, and compliance with reporting and documentation requirements. Do you and your team feel confident in classifying the tariff of your goods? Is your knowledge up-to-date? Our online collection can help accurately determine all customs tariff numbers. See all updates here: https://www.customsmanager.info/all-news/categories/customs-classification 1) Customs Classification: The Basics for Businesses Unlock the secrets of customs classification and ensure your business thrives in global trade. Learn how to avoid costly mistakes and delays. https://www.customsmanager.info/post/customs-classification-the-basics ⇒ UK UK Trade Tariff. Various Updates The UK Tariff is updated with various amendments. We take a closer look https://www.customsmanager.info/post/uk-trade-tariff-various-updates ⇒ US U.S. HTS Customs Classification: CROSS Customs Rulings Online Search System CROSS is a searchable database of CBP rulings on HTS Customs classification. Access the latest rulings here + a guide on how to use CROSS effectively. CROSS was last updated Oct 6, 2023, 7:45 PM with 1 rulings, bringing the total number of searchable rulings to 213191. The most recent ruling is dated Oct 3, 2023. https://www.customsmanager.info/post/u-s-hts-customs-classification-cross-customs-rulings-online-search-system ⇒ EU 1) EU: Repeal of classification decision on "rooibos tea" A product made from the rooibos plant was previously classified under one code, but a new classification opinion has been approved for 'rooibos tea'. This new classification makes the previous one redundant. The regulation that classified rooibos under a different code has been repealed to ensure international uniformity in the interpretation and application of the Harmonized System. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202302217 2) Classification Decision The EU has classified a product used as a resin in affinity chromatography. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202302218 3) Customs Classification: Highest Duty Rate for Smartwatches (GIR 3c) Stay informed about potential regulatory changes affecting the customs classification of smartwatches in the EU. Learn about the use of GIR 3c and the resulting highest duty rate for smartwatches! https://www.customsmanager.info/post/customs-classification-to-highest-duty-rate-smartwatch-gir-3c Customs Updates You can find all of our customs updates here: https://www.customsmanager.info/all-news/categories/customs 1) Switzerland: Abolition of industrial tariffs Switzerland will abolish industrial tariffs starting from January 1, 2024. Details here. https://www.customsmanager.info/post/switzerland-abolition-of-industrial-tariffs 2) EU Conflict Minerals Regulation: A Critical Evaluation Discover the impact of the EU Conflict Minerals Regulation and its challenges in this insightful paper. Download now for a comprehensive analysis. https://www.customsmanager.info/post/the-eu-conflict-minerals-regulation-how-effective-download-the-new-paper Customs Declarations (+ CDS) - Updates UK: Customs Declarations Service (CDS): Check Out Latest Changes No changes noted this week. Last date of update 23.10.2023. See details and links here https://www.customsmanager.info/post/latest-changes-to-the-uk-customs-declaration-service Court Cases & Law Updates Please also refer to our constantly updated collection of articles, guides on this topic etc: https://www.customsmanager.info/all-news/categories/customs-global-trade-monitor ⇒ UK No updates this week. ⇒ EU EU: Court annuls the additional customs duties on certain U.S. lighters Learn about the details of a court case and the judge's ruling https://www.customsmanager.info/post/eu-court-annuls-the-additional-customs-duties-on-certain-u-s-lighters Judgment of the Court on Imports of aluminium flat-rolled products originating in China - Definitive anti-dumping duty - Action for annulment https://www.customsmanager.info/post/eu-latest-add-cvd-cases ⇒ U.S. U.S: Newest Customs Decisions of CBP and U.S. Courts The U.S. Customs and Border Protection, U.S. Court of Appeals for the Federal Circuit, and U.S. Court of International Trade publish a weekly collection of judgements, rulings, rules, notifications, and abstracts about customs and related subjects. Access the latest edition Customs Bulletin Weekly, Vol. 57, October 4, 2023, No.36 - no update last week.https://www.customsmanager.info/post/us-customs-bulletin-weekly-decisions Due Diligence For all updates, see: https://www.customsmanager.info/all-news/categories/due-diligence EU: Companies trading globally must respect human rights & environment (Due Dilligence) In 2022, the European Union adopted a proposal called the Directive on Corporate Sustainability Due Diligence. This proposal aims to promote sustainable and responsible corporate behavior across the global value chains. https://www.customsmanager.info/post/eu-companies-trading-globally-must-respect-human-rights-environment-due-dilligence Duty-Free (and Duty Reliefs) & Simplifications For all updates, see: https://www.customsmanager.info/all-news/categories/duty-savings Customs warehouses: Keep Your Cash - Now and Forever - But how? Customs warehousing is a cost-effective way to store foreign products in your country that are destined for another. How can a business benefit from it? https://www.customsmanager.info/post/customs-warehousing-keep-your-cash E-Customs Updates 1) EU: Step-by-Step Preparation Help for ICS 2 - Release 3: Our Briefing More transport sectors are soon subject to EU safety and security standards under ICS 2 - Release 3. Get ready with our step-by-step guide and factsheet for download. https://www.customsmanager.info/post/eu-step-by-step-preparation-help-for-ics-2-release-3-our-briefing 2) The EU ICS system: Debrief for businesses Discover the EU ICS system, ICS 2, and its impact on businesses. Learn about the new customs pre-arrival security program and its benefits. https://www.customsmanager.info/post/eu-ics 3) U.S: Cargo Systems Messaging Service The U.S. Customs and Border Protection’s (CBP’s) Cargo Systems Messaging Service (CSMS). is one of CBP’s methods for communicating to our trade partners news and updates on our automated systems – namely the Automated Commercial Environment (ACE). Access the latest updates here. https://www.customsmanager.info/post/u-s-cargo-systems-messaging-service-latest-update Export Controls Updates To make sure you never miss an export control update, bookmark https://www.customsmanager.info/all-news/categories/export-controls Export controls are a set of laws, regulations, and policies that govern the exportation of goods, software, and technology. These controls are put in place by governments to restrict the transfer of sensitive items or information to other countries or entities that may use it for military or terrorist purposes. Export controls help to prevent the proliferation of weapons of mass destruction, maintain national security, and support foreign policy objectives. They also help to ensure that businesses comply with the relevant laws and regulations, and avoid penalties or sanctions for violating them. Therefore, it is crucial for businesses to have a clear understanding of export controls and comply with them to avoid any legal or reputational risks. For a comprehensive update on new rules, decisions, and laws from the US, EU, and UK from last week, keep an eye out for "The Export Control & Sanctions" Manager in your inbox at 6 am on Tuesday. Free Trade Agreement Updates For all updates regarding this topic, please view regularly and bookmark: https://www.customsmanager.info/all-news/categories/free-trade-agreement 1) UK CARIFORUM FTA: How to trade with Caribbean countries for zero duty An EPA facilitates trade between the Caribbean countries and the UK. What is that and how do firms benefit? https://www.customsmanager.info/post/uk-cariforum-fta 2) EU-Japan FTA: Handbook for EU businesses importing from Japan The EU-Japan FTA Importing Handbook is a must-read for professionals seeking to import from Japan or the EU free of duty. You can download it here. https://www.customsmanager.info/post/eu-japan-free-trade-agreement-fta 3) CPTPP: Membership perks for British Exporters !?! Will the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) truly benefit British exporters? What are the UK CPTPP membership perks? We explore. https://www.customsmanager.info/post/cptpp-membership-perks-for-british-exporters 4) CPTTP: Five Uncomfortable Truths that UK Businesses Should Know While the UK government touts the benefits of CPTPP, it's essential to acknowledge the potential downsides as well. https://www.customsmanager.info/post/cpttp-free-trade-agreement-uk 5) CPTPP: What benefits for my Industry? We look at the construction, life science, food & drink and manufacturing sectors and explore how they can benefit from CPTPP. https://www.customsmanager.info/post/cptpp-what-benefits-for-my-industry Northern Ireland Trade Updates For all updates regarding the Northern Ireland Protocol and the Windsor Framework, please view and bookmark: https://www.customsmanager.info/all-news/categories/northern-ireland No update this week Novice ("Help" I am New to Customs & Global Trade") - the column for newbies Welcome to the customs newbies section! Our goal is to provide you with bite-sized information and updates to encourage continuous learning and to spark your interest in customs and global trade. Join us and learn new things every day. Don't forget to check out our constantly updated collection of articles and guides on this topic. https://www.customsmanager.info/all-news/categories/start 2) Demystifying Rules of Origin: A Videocast Guide (Part 2) In the first part of our three-part series on Rules of Origin, we will define what the rules of origin are and who they are applicable to. https://www.customsmanager.info/post/rules-of-origin-unlocked-part-2-1 1) Demystifying Rules of Origin: A Videocast Guide (Part 1) In the first part of our three-part series on Rules of Origin, we will define what the rules of origin are and who they are applicable to. https://www.customsmanager.info/post/demystifying-rules-of-origin-a-videocast-guide-part-1 Origin (Rules of) 1) The Ultimate Guide on how to meet the Rules of Origin Find out the rules to establish the country of origin of imported and exported goods and to help identify goods that qualify for lower or no customs duty. https://www.customsmanager.info/post/the-ultimate-guide-on-how-to-meet-the-rules-of-origin 2) Demystifying Rules of Origin: A Videocast Guide (Part 2) In the first part of our three-part series on Rules of Origin, we will define what the rules of origin are and who they are applicable to. https://www.customsmanager.info/post/rules-of-origin-unlocked-part-2-1 3) Demystifying Rules of Origin: A Videocast Guide (Part 1) In the first part of our three-part series on Rules of Origin, we will define what the rules of origin are and who they are applicable to. https://www.customsmanager.info/post/demystifying-rules-of-origin-a-videocast-guide-part-1 ⇒ EU EU-Vietnam Trade Agreement: How to trade freely! Trading with the EU and Vietnam without duty offer great growth opportunities for many businesses but read the fine print, argues Arne Mielken of Customs Manager Ltd https://www.customsmanager.info/post/eu-vietnam-free-trade-agreement ⇒ UK 2) UK: Access the Rules of Origin of all UK Free Trade Agreements To be eligible for tariff-free trade under the UK Free Trade Agreements (FTAs), it is imperative that businesses thoroughly review and understand the specific Rules of Origin for each FTA. You can find all the necessary Rules of Origin right here. https://www.customsmanager.info/post/uk-access-the-rules-of-origin-of-all-uk-free-trade-agreements 3) Unlocking the Benefits: CPTPP - Rules of Origin In our new series covering the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership, CPTPP, we will break down all the relevant provisions of the Free Trade Agreement. Today, we will focus on Rules of Origin. https://www.customsmanager.info/post/cptpp-unlocked-and-explained-rules-of-origin 4) CPTPP - Rules of Origin - Legal Text Find here the legal text on the Rules of Origin under the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership, CPTPP https://www.customsmanager.info/post/cptpp-rules-of-origin-legal-text 5) UK: Rules of Origin under the UK-Vietnam Free Trade Agreement We provide definitive answers to the 10 most crucial questions for importers/exporters on Rules of Origin, enabling seamless and duty-free trading under the UK-Vietnam FTA https://www.customsmanager.info/post/rules-of-origin-uk-vietnam-fta Sanctions Updates The European Union (EU), United Kingdom (UK), and United States (US) have implemented extensive sanctions laws. These rules provide processes for creating lists of individuals and businesses that are subject to asset freeze targets, financial and investment restrictions. In order to avoid accidental non-compliance, businesses must stay up-to-date with the latest sanctions rules. You can receive the latest sanctions updates every Tuesday by subscribing to "The Export Control & Sanctions Manager" newsletter, which will be delivered directly to your inbox at 6am. Read the collection of all articles we have written on this topic here https://www.customsmanager.info/all-news/categories/sanctions SME Read the collection of all articles on this topic here https://www.customsmanager.info/all-news/categories/sme No new Updates Transit Updates Read the collection of all articles on this topic here https://www.customsmanager.info/all-news/categories/transit Change to the implementation date for NCTS5 The Common Transit Convention (CTC) authority has recently announced that the transition period for switching to the New Computerised Transit System Phase 5 (NCTS5) has been extended. This decision was made due to a number of countries requiring more time. As a result, HMRC has decided to push back the deadline for implementing NCTS5 in the UK. The new implementation date is set for 1 July 2024. Until then, it is recommended that you continue using the existing NCTS system. The HMRC Trader Test environment will remain open and will switch to the Transitional mode on 11 October 2023, as planned. If you are building software, you should continue developing and testing to align with the revised implementation date. Valuation (Customs) Read the collection of all articles on this topic here https://www.customsmanager.info/all-news/categories/valuation Customs Valuation: What is that, and how Do I determine this? Importers must declare the correct customs value of their imported products. But what is this "customs value" and how can you determine this? We explain. https://www.customsmanager.info/post/customs-value-what-is-that-and-how-do-i-determine-this Veterinary Border & SPS controls updates Read the collection of all articles here: https://www.customsmanager.info/all-news/categories/food 1) COLLECTION OF LATEST ARTICLES EU, UK Veterinary Border & SPS Controls: Latest Updates Stay updated on the latest Veterinary Border & SPS controls in the EU and UK. Find guides, documents, and resources for food & retail businesses. Date of last update: 16.10.2023 https://www.customsmanager.info/post/veterinary-border-sps-our-updates-for-food-retail-businesses 2) The Accredited Trusted Trader Scheme (ATTS) - What is it and why does it matter? Discover the importance of the Accredited Trusted Trader Scheme (ATTS) and how it supports businesses importing medium-risk products into Great Britain. https://www.customsmanager.info/post/the-accredited-trusted-trader-scheme-atts-what-is-it-and-why-does-it-matter 3) UK Wine Reform: EU Labelling Changes Benefit Imports Discover how the UK is breaking free from EU labelling requirements for wine imports. Learn about the new rules and their impact on the industry. https://www.customsmanager.info/post/uk-wine-reform-eu-labelling-requirements-scrapped 4) UK: Updated List of Businesses that can export food to the EU Only approved GB businesses may export food products to the EU. Check the updated list: Is your business on it? Date of last update: 22.10.2023 https://www.customsmanager.info/post/uk-is-your-gb-business-approved-to-export-to-the-eu-list-updated World Customs Organisation Updates (WCO) See here for the latest: https://www.customsmanager.info/all-news/categories/wco WCO: Council adopts three HS Changes. Your Customs Tariff will change! Get ready for changes in your customs tariff! The WCO Council has adopted three HS changes that can impact your business. Download the detailed WCO documents. https://www.customsmanager.info/post/wco-council-adopts-three-hs-changes-your-tariff-will-change What if I have a question regarding these updates Please use the chat function on the website www.customsmanager.org to ask any questions you may have in relation to this update. Your dedicated team of Customs Managers will endeavour to respond in less than 24 hours. Sources EU Official Journal of the EU DG TAXUD Website DG TRADE Website Social Media (LinkedIn, Twitter, etc). Information on the National Customs Website of Member States U.S. Customs & Border Protection (CBP) Bureau of Industry and Security (BIS) Department of Commerce Office of Foreign Asset Control (OFAC) International Trade Administration United Stated Internation Trade Commission Social Media (LinkedIn, Twitter, etc). Information on the National Customs Website of Member States UK Information on gov.uk Information on legislation.gov.uk Department of Business and Trade HMRC DEFRA Social Media (LinkedIn, Twitter, etc). Other World Trade Organisation (WTO) World Customs Organisation (WCO) United Nations (Sanctions) Social Media (LinkedIn, Twitter, etc). About Customs Manager’s Customs & Global Trade Intelligence Services The Premium Professional Legislative Monitoring Service (PLM) is a research and curation service which checks for legislative updates from official government websites based on the selected jurisdictions and topics. Paid Plan subscribers can access regular law change notifications to ensure they never miss a significant legal change on www.customsmanager.info – a website dedicated to customs & trade intelligence. At the same time, they save valuable time by engaging our dedicated trade specialists to carry the monitoring out for them. Premium subscribers also unlock all content on the Customs Manager’s Ltd. website, including our Customs & Trade Blog on www.customsmanager.info , providing vital thought leadership development services to empower them to trade effectively, efficiently and, of course, compliantly, across borders. Premium Subscribers can add jurisdictions and topics for an additional charge. About Customs Manager Ltd. We aim to empower people with import, export and transport responsibilities with helpful advice, insightful training and relevant trade intelligence services. We devote all our passion and energy to helping businesses grow faster cross-border. Working with us means having your own multilingual Customs Manager on standby to help you trade effectively, efficiently and, of course, compliantly wherever you want to go. Includes Brexit support and the ability to lodge customs declarations + Rules of Origin Stay in Touch · Website: www.customsmanager.org · E-Mail: info@customsmanager.org · YouTube: https://www.youtube.com/c/CustomsManagerLtd · Twitter: @customsmanager · Linked In: https://www.linkedin.com/company/69768402/admin/ Important Notice Customs Manager Ltd. owns the copyright in this document, except for external documents and links we refer to or make available. You are not allowed to use this information in any way that infringes its intellectual property rights. You may have to hold a valid licence to use this information. A licence can be obtained by becoming a Paid Plan subscriber to the Customs Managers’ Customs & Trade Intelligence service, also known as Professional Legislative Monitoring (PLM). As a Paid Plan subscriber, you may download and print this information which you may then use, copy or reproduce for your internal non-profit-making purposes. However, you are not permitted to use, copy or reproduce this information to profit or gain. In addition, you must not sell or distribute this information to third parties, not members of your organisation, whether for monetary payment or otherwise. This information is intended to serve as general guidance and not constitute legal advice. The application and impact of laws can vary widely based on the specific facts involved. This information should not be used as a substitute for consultation with professional legal or other competent advisers. Before making any decision or taking action, consult a Customs Manager Ltd. professional. In no circumstances will Customs Manager Ltd be liable for any decision made or action taken in reliance on the information contained within this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.

Switzerland will abolish industrial tariffs starting from January 1, 2024. Details here.

In this latest three-part videocast, former business journalist Paul Mullins grills Rules of Origin expert Arne Mielken.

Learn about the details of a court case and the judge's ruling.

Find a compilation of national control lists for export controls across the EU here.

An EPA facilitates trade between the Caribbean countries and the UK. What is that and how do firms benefit?

The Export Control (Amendment) (No 2) Regulations 2023 enters into force. We explain what the changes are.

The EU-Japan FTA Importing Handbook is a must-read for professionals seeking to import from Japan or the EU free of duty. You can download it here.

Discover the ultimate collection of articles on EU sanctions, featuring the latest updates, a comprehensive guide, case studies, and more. Explore now! Date of last update 24.10.2023 EU: Lists of Sanctioned Persons & Entities - Latest Updates The following information provides the most recent updates on the sanctions imposed by the EU against certain individuals, entities, and organizations. These updates are relevant and important, as they offer a comprehensive view of the current state of affairs regarding EU-imposed sanctions. https://www.customsmanager.info/post/eu-lists-of-sanctioned-persons-entities-latest-updates EU Sanctions Map: Our Use-Guide for Effective Company Implementation The EU Sanctions Map is an extensive and up-to-date database that contains all the latest EU sanctions information. It provides a detailed overview of all EU sanctions, including individuals, entities, and countries. The map is an excellent resource for businesses that operate in the EU or trade with EU member countries. https://www.customsmanager.info/post/eu-sanctions-map-our-use-guide-for-effective-company-implementation EU Sanctions: What? How? Who? In this comprehensive beginner's guide to the sanctions policy of the European Union, we provide detailed answers to all the essential questions surrounding EU sanctions. We cover the history of EU sanctions and their purpose, the various types of sanctions imposed by the EU, the laws and regulations governing EU sanctions policy, and the implications for businesses operating within the EU. Additionally, we offer practical guidance on what businesses can do to ensure compliance with EU sanctions and avoid potential penalties. Whether you are a newcomer to EU sanctions policy or a seasoned professional, this guide will provide you with a thorough understanding of the subject matter. https://www.customsmanager.info/post/eu-sanctions-what-how-who Red Flags: Real Case Studies Are you interested in obtaining a highly informative asset that provides detailed insights into the warning signs of potential violations in sanctions compliance? This resource is designed to help you identify and address any red flags that may arise in your compliance efforts, and is sure to prove invaluable in maintaining regulatory compliance and minimizing risk. https://www.customsmanager.info/post/red-flags-real-case-studies-sanctions-against-russia About Customs Manager’s Customs & Global Trade Intelligence Services The Premium Professional Legislative Monitoring Service (PLM) is a research and curation service which checks for legislative updates from official government websites based on the selected jurisdictions and topics. Paid Plan subscribers can access regular law change notifications to ensure they never miss a significant legal change on www.customsmanager.info – a website dedicated to customs & trade intelligence. At the same time, they save valuable time by engaging our dedicated trade specialists to carry the monitoring out for them. Premium subscribers also unlock all content on the Customs Manager’s Ltd. website, including our Customs & Trade Blog on www.customsmanager.info , providing vital thought leadership development services to empower them to trade effectively, efficiently and, of course, compliantly, across borders. Premium Subscribers can add jurisdictions and topics for an additional charge. About Customs Manager Ltd. We aim to empower people with import, export and transport responsibilities with helpful advice, insightful training and relevant trade intelligence services. We devote all our passion and energy to helping businesses grow faster cross-border. Working with us means having your own multilingual Customs Manager on standby to help you trade effectively, efficiently and, of course, compliantly wherever you want to go. Includes Brexit support and the ability to lodge customs declarations + Rules of Origin Stay in Touch · Website: www.customsmanager.org · E-Mail: info@customsmanager.org · YouTube: https://www.youtube.com/c/CustomsManagerLtd · Twitter: @customsmanager · Linked In: https://www.linkedin.com/company/69768402/admin/ Important Notice Customs Manager Ltd. owns the copyright in this document, except for external documents and links we refer to or make available. You are not allowed to use this information in any way that infringes its intellectual property rights. You may have to hold a valid licence to use this information. A licence can be obtained by becoming a Paid Plan subscriber to the Customs Managers’ Customs & Trade Intelligence service, also known as Professional Legislative Monitoring (PLM). As a Paid Plan subscriber, you may download and print this information which you may then use, copy or reproduce for your internal non-profit-making purposes. However, you are not permitted to use, copy or reproduce this information to profit or gain. In addition, you must not sell or distribute this information to third parties, not members of your organisation, whether for monetary payment or otherwise. This information is intended to serve as general guidance and not constitute legal advice. The application and impact of laws can vary widely based on the specific facts involved. This information should not be used as a substitute for consultation with professional legal or other competent advisers. Before making any decision or taking action, consult a Customs Manager Ltd. professional. In no circumstances will Customs Manager Ltd be liable for any decision made or action taken in reliance on the information contained within this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.

Discover the latest updates from the EU-U.S. Summit on trade, as the two powerhouses struggle to find common ground on tariffs and critical minerals. Source: Twitter Account EU Commission The European Union and the United States share the largest trade and investment relationship worldwide, based on common values and extending beyond economics. "Today’s EU-US Summit gives the opportunity to boost our cooperation and sets out a roadmap for years to come in the areas of artificial intelligence, climate change, digital infrastructure and trade". - EU Commission During the EU-U.S. Summit last week, trade negotiators from the United States and Europe engaged in discussions regarding the long-standing trade disputes over tariffs under the Trump administration and US green subsidies. Unfortunately, the talks were unable to resolve the issues, particularly those concerning steel tariffs and the impact of new American tax incentives for purchasing electric vehicles (EVs) produced in North America on Europe. The European Union aimed to reach agreements with the US to curtail the effects of US green subsidies and eliminate the tariffs imposed by the previous US administration. However, the ongoing turmoil in the Middle East and apprehensions about the US losing support for Ukraine overshadowed their efforts. Challenge 1: Tariffs on steel and aluminium In 2018, then-President Donald Trump imposed import duties of 10% on aluminium and 25% on steel from the EU. Recently, the US has lifted these tariffs, but with a catch: The exemption is granted only if both parties come to an agreement on tackling overcapacity in non-market economies such as China and promoting greener steel. The US has put forward a demand that the EU impose metal tariffs on Chinese imports. However, the EU has stated that it can only do so after a year-long investigation to ensure compliance with WTO regulations. The negotiations are currently aimed at achieving a mutually beneficial deal by the end of the year. Challenge 2: Critical minerals agreement The EU has announced that they have made progress with the U.S. towards reaching a targeted critical minerals agreement. The EU is particularly concerned about the impact of new American tax incentives for purchasing electric vehicles produced in North America rather than Europe. The U.S. Inflation Reduction Act gives consumers tax advantages to buy electric vehicles built only in North America. The EU wants to ensure that minerals necessary for the production of electric vehicles, extracted or processed in the European Union, count towards the requirements for clean vehicles as per Section 30D clean vehicle tax credit of the Inflation Reduction Act. This would mean that electric vehicles containing essential components sourced from the EU would be eligible for at least partial tax savings. The minerals in question include cobalt, graphite, lithium, manganese, and nickel. However, it is worth noting that the EU requires these minerals for its own green transformation, so the benefits to the bloc might be limited. The United States has proposed the creation of a green steel club that would be open to other allies and largely tariff-free. However, state-owned firms would be restricted from joining, which would prevent China from becoming a member. Although there has been progress towards a compromise to mitigate the effects of the U.S. Inflation Reduction Act, it seems that a resolution is still distant. More information and links https://ec.europa.eu/commission/presscorner/detail/en/statement_23_5198 About Customs Manager’s Customs & Global Trade Intelligence Services The Premium Professional Legislative Monitoring Service (PLM) is a research and curation service which checks for legislative updates from official government websites based on the selected jurisdictions and topics. Paid Plan subscribers can access regular law change notifications to ensure they never miss a significant legal change on www.customsmanager.info – a website dedicated to customs & trade intelligence. At the same time, they save valuable time by engaging our dedicated trade specialists to carry the monitoring out for them. Premium subscribers also unlock all content on the Customs Manager’s Ltd. website, including our Customs & Trade Blog on www.customsmanager.info , providing vital thought leadership development services to empower them to trade effectively, efficiently and, of course, compliantly, across borders. Premium Subscribers can add jurisdictions and topics for an additional charge. About Customs Manager Ltd. We aim to empower people with import, export and transport responsibilities with helpful advice, insightful training and relevant trade intelligence services. We devote all our passion and energy to helping businesses grow faster cross-border. Working with us means having your own multilingual Customs Manager on standby to help you trade effectively, efficiently and, of course, compliantly wherever you want to go. Includes Brexit support and the ability to lodge customs declarations + Rules of Origin Stay in Touch · Website: www.customsmanager.org · E-Mail: info@customsmanager.org · YouTube: https://www.youtube.com/c/CustomsManagerLtd · Twitter: @customsmanager · Linked In: https://www.linkedin.com/company/69768402/admin/ Important Notice Customs Manager Ltd. owns the copyright in this document, except for external documents and links we refer to or make available. You are not allowed to use this information in any way that infringes its intellectual property rights. You may have to hold a valid licence to use this information. A licence can be obtained by becoming a Paid Plan subscriber to the Customs Managers’ Customs & Trade Intelligence service, also known as Professional Legislative Monitoring (PLM). As a Paid Plan subscriber, you may download and print this information which you may then use, copy or reproduce for your internal non-profit-making purposes. However, you are not permitted to use, copy or reproduce this information to profit or gain. In addition, you must not sell or distribute this information to third parties, not members of your organisation, whether for monetary payment or otherwise. This information is intended to serve as general guidance and not constitute legal advice. The application and impact of laws can vary widely based on the specific facts involved. This information should not be used as a substitute for consultation with professional legal or other competent advisers. Before making any decision or taking action, consult a Customs Manager Ltd. professional. In no circumstances will Customs Manager Ltd be liable for any decision made or action taken in reliance on the information contained within this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.

Read this blog entry to learn the most effective Restricted Party Screening (RPS) due diligence steps and how best to implement an RPS program. Ever wonder if your trade partners are okay to do business with? Who you can and cannot buy from? Not sure if they are listed on any sanctions or watch lists? You're not alone. Because of the current political climate about trade embargoes, trade restrictions and economic sanctions, knowing the status of your customers and other trade partners is critically important. But not screening for restricted parties and not following relevant sanctions regulations can land your business in serious trouble. And you don't want that to happen! After all, who wants to pay the fine or spend time in jail because of an innocent mistake? It's a question that keeps many companies up at night. The truth is that many people are expecting companies to be affected by U.S., EU, UK or UN sanctions, but few know how companies are being impacted now and in the years ahead. Don't leave your trade compliance program incomplete! Ensure its effectiveness by conducting restricted party screening - a necessary component to stay on the right side of the law. I Introduction Effective Restricted Party Screening (RPS) plays a crucial role in international trade and security. In today's interconnected world, where cross-border transactions are commonplace, countries and organizations need to implement measures that ensure compliance with sanctions and prevent engaging with restricted parties. These measures are not only necessary to maintain national security, but also to uphold international agreements and promote ethical business practices. II The importance of Sanctions & RPS in international trade and compliance These measures play a crucial role in international trade and compliance as they serve as a safeguard against illicit activities such as money laundering, terrorism financing, and the proliferation of weapons of mass destruction. By implementing effective sanctions and restricted party screening processes, countries, and organizations can minimize the risk of inadvertently supporting or doing business with entities that pose a threat to global peace and stability. Moreover, these measures help maintain a level playing field for businesses by ensuring fair competition and preventing unfair advantages for those who may try to bypass international regulations. III The Importance of Restricted Party Screening (RPS) Restricted Party Screening (RPS) is a vital component of international trade compliance that involves conducting thorough checks on individuals, organizations, and entities before engaging in any business transactions. RPS aims to ensure that a company does not unknowingly engage with restricted or prohibited parties, such as terrorists, money launderers, or entities involved in nuclear proliferation. By implementing RPS, companies can mitigate the risk of violating trade regulations and facing severe penalties. Additionally, RPS plays a crucial role in maintaining national security and upholding international non-proliferation efforts by preventing the transfer of sensitive technologies to non-desired entities. IV Benefits of conducting RPS for businesses engaged in international trade The Benefits of conducting RPS for businesses engaged in international trade include avoiding legal and financial consequences, protecting brand reputation, and maintaining good relationships with government agencies and international partners. By conducting RPS, businesses can ensure that their supply chains are free from any association with prohibited parties, reducing the likelihood of disruptions or delays in their operations. This helps maintain compliance with trade regulations and enhances the overall efficiency and reliability of their global trade activities. Furthermore, by actively participating in RPS, businesses demonstrate their commitment to responsible and ethical business practices, which can enhance their standing in the global marketplace and attract potential customers who value transparency and compliance. V The Consequences of failing to perform RPS The consequences of failing to perform RPS and potential legal and reputational risks can be significant for businesses. Failing to perform RPS can result in penalties, fines, and even criminal charges, depending on the severity of the violation. Moreover, the negative impact on a company's reputation can be long-lasting and lead to losing trust from customers, partners, and stakeholders. This can ultimately affect the company's bottom line and future growth prospects. Therefore, businesses must prioritize RPS and understand the potential legal and reputational risks associated with non-compliance. How does your company manage its restricted party screening process? Leave some of your best practices in the comments below! In summary, conducting a thorough Restricted Party Screening at both master data and transactional levels is essential for any business that engages in international trade. It helps ensure compliance with international trade regulations and mitigates the risk of engaging in business with restricted or sanctioned parties. Best Practices for RPS Screening If you are keen to learn about the best practices in RPS screening, keep reading: https://www.customsmanager.info/post/sanctions-best-practices-in-restricted-party-screening In this blog entry, we will give you top tips on what you need to be looking for when it comes to RPS screening. What can I do? We are always here to help you with your Sanctions and RPS process. Ensure you subscribe to our trade intelligence service to receive timely alerts for Sanctions, OFAC, Terrorist Lists and other watchlists. Our team researches every relevant sanction list to provide you with the most up-to-date information as it becomes available. Your organization needs Trade Intelligence! If you have any questions or need guidance on establishing a solid process, please contact us at info@customsmanager.org . We are eager to connect with you and provide any assistance you require. Contact us today to discover how we can support you in protecting your business from fines and legal troubles. About Customs Manager’s Customs & Global Trade Intelligence Services The Premium Professional Legislative Monitoring Service (PLM) is a research and curation service which checks for legislative updates from official government websites based on the selected jurisdictions and topics. Paid Plan subscribers can access regular law change notifications to ensure they never miss a significant legal change on www.customsmanager.info – a website dedicated to customs & trade intelligence. At the same time, they save valuable time by engaging our dedicated trade specialists to carry the monitoring out for them. Premium subscribers also unlock all content on the Customs Manager’s Ltd. website, including our Customs & Trade Blog on www.customsmanager.info , providing vital thought leadership development services to empower them to trade effectively, efficiently and, of course, compliantly, across borders. Premium Subscribers can add jurisdictions and topics for an additional charge. About Customs Manager Ltd. We aim to empower people with import, export and transport responsibilities with helpful advice, insightful training and relevant trade intelligence services. We devote all our passion and energy to helping businesses grow faster cross-border. Working with us means having your own multilingual Customs Manager on standby to help you trade effectively, efficiently and, of course, compliantly wherever you want to go. Includes Brexit support and the ability to lodge customs declarations + Rules of Origin Stay in Touch · Website: www.customsmanager.org · E-Mail: info@customsmanager.org · YouTube: https://www.youtube.com/c/CustomsManagerLtd · Twitter: @customsmanager · Linked In: https://www.linkedin.com/company/69768402/admin/ Important Notice Customs Manager Ltd. owns the copyright in this document, except for external documents and links we refer to or make available. You are not allowed to use this information in any way that infringes its intellectual property rights. You may have to hold a valid licence to use this information. A licence can be obtained by becoming a Paid Plan subscriber to the Customs Managers’ Customs & Trade Intelligence service, also known as Professional Legislative Monitoring (PLM). As a Paid Plan subscriber, you may download and print this information which you may then use, copy or reproduce for your internal non-profit-making purposes. However, you are not permitted to use, copy or reproduce this information to profit or gain. In addition, you must not sell or distribute this information to third parties, not members of your organisation, whether for monetary payment or otherwise. This information is intended to serve as general guidance and not constitute legal advice. The application and impact of laws can vary widely based on the specific facts involved. This information should not be used as a substitute for consultation with professional legal or other competent advisers. Before making any decision or taking action, consult a Customs Manager Ltd. professional. In no circumstances will Customs Manager Ltd be liable for any decision made or action taken in reliance on the information contained within this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.

Looking for best practices in Restricted Party Screening? Check out our blog post on Sanctions, Best Practices, and more!