Article 73 of the Union Customs Code (“UCC”) provides an easement for determining the customs value of goods, where elements of the transaction value are not quantifiable at the moment of importation. The simplification has been proven particularly useful for declaring additions to value such as assists (e.g. certain R&D related costs), royalties and license fees. Subject to an authorization from the competent customs authorities, the simplification allows for the value of these elements to incorporated into the customs values of imports on the basis of an agreed calculation method and for ..read more

On 21 March 2024, the French Senate (French Parliament’s higher chamber) rejected the bill of the French government proposing to approve the EU-Canada Comprehensive Trade Agreement (CETA). For several years, the European Commission and the Canadian government negotiated a comprehensive free trade agreement, including new types of provisions on investment. It was the first ever ambitious free-trade agreement that the EU concluded with a G7 country (Japan and the UK were concluded later). The CETA is a so-called “mixed agreement”, which contains provisions failing under the scope of both the exc ..read more

On 1 March 2024, the European Commission introduced the Proof of Union Status (“PoUS“) system. What is the PoUS system? The PoUS system establishes electronic proofs in the form of T2L and T2LF data to prove European Union status. This is intended to replace the paper procedure of T2L/T2LF and shipping companies’ manifests that have been used. Following the introduction of the PoUS system, paper documents of the T2I(F) will no longer be used. The new system uses this data to prove the European Union status of goods in free circulation which have been brought from one point to another within th ..read more

On 13 March 2024, the European Council and European Parliament agreed the final text of the proposed EU Forced Labour Regulation (“Regulation“). This follows negotiations between the EU Council and Parliament which took place on 22 January 2024 and the European Council and European Parliament reaching a provisional agreement on the Regulation on 5 March 2024. The European Commission had initially proposed the Regulation on 14 September 2022. For information on the key similarities and differences between the existing US forced labour regime and proposed EU approach, the timeline and next steps ..read more

The Customs (Preferential Trade Arrangements: Error in Evidence of Origin) Regulations 2024 (the “Regulations”), which introduce into UK law the obligation for exporters to notify their customers if they discover any material error in a Certificate of Origin they have issued, have come into force on 13 March 2024. The Regulations only apply to exports made under the UK’s trade agreements with Canada, Turkey, New Zealand, Iceland, Liechtenstein, Norway and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. HMRC has published a guidance here on information that ..read more

Last week, HM Revenue & Customs (HMRC) and HM Treasury launched a public consultation on the introduction of a UK carbon border adjustment mechanism (CBAM), following its announcement in December 2023.  The CBAM proposal forms part of the UK government’s wider strategy to tackle carbon leakage.  To achieve this it will impose a carbon price on imported goods with the aim of levelling the playing field and ensuring that imported goods are subject to a carbon price that is comparable to that incurred by manufacturers based in the UK. Interested parties, including businesses outside ..read more

On 13 March 2024, the European Parliament adopted its first reading position on the proposal from the European Commission to repeal and significantly reform the EU Customs Code (which we originally reported on in our blog available here). On 17 May 2023, the European Commission published its proposal for the reform of the EU Customs Code, which aims to change the way that EU customs authorities operate, in particular due to the significant growth in e-commerce and the increase in product standards and sanctions in the EU. Amongst others, the proposal focuses on three key areas of reform: (i) t ..read more

On Tuesday 5 March 2024, the European Council and European Parliament reached a provisional agreement on the EU Forced Labour Regulation (“Regulation“), which will prohibit the placing and making available on the EU market, or the export from the EU market, of products made, extracted or harvested using forced labour. It is expected that the Regulation will enter into force by the summer of 2024. This follows the Commission’s proposal of the Regulation on 14 September 2022, and negotiations between the EU Council and Parliament which took place on 22 January 2024. Scope: The Regulation covers ..read more

Background On 4 March 2024 the Council of the European Union and the European Parliament reached a provisional political agreement on a new Regulation on Packaging and Packaging Waste (the “Regulation“).  The Regulation will replace the current Packaging and Packaging Waste Directive 94/62/EC, aiming to reduce packaging waste and introducing a range of sustainability measures including a requirement for all packaging to be recyclable by 2030. The Regulation is an integral part of the European Green Deal and the EU Circular Economy Action Plan and is seen as key to helping the EU transitio ..read more

Mexico is in the international spotlight as a prime nearshoring destination. With record-breaking 2023 investment and trade numbers, and an upcoming presidential election, 2024 will be a defining year for Mexico leveraging their nearshoring opportunity. In this pivotal year, we invite you to attend the flagship conference hosted by Baker McKenzie and the Atlantic Council in Mexico City to analyze how the future administration can leverage the nearshoring trend for the prosperity of Mexicans.  Date and Time Thursday, March 21, 2024 7:30 AM – 8:00 AM – Registration & Networking Breakfa ..read more