International Trade and Customs



Meet the Co-chairs - TAG-SP

Hove, John
Scopelitis, Garvin, Light, Hanson & Feary, P.C

International Trade and Customs

Written by Susan Kohn Ross and Jeffrey D. Davine

It is far too early to discern the extent of any change to the relationship between the U.S. and Mexico in the face of the oft-repeated insistence of the Trump campaign to “renegotiate” NAFTA, a promise that was reiterated once Mr. Trump was sworn into office. Following a prickly meeting last month between President Trump and Mexican President Enrique Peña Nieto, accounts from Mexico report the government as having started consultations with its business community, a process described as taking 90 days. The results of those consultations and how they might impact any further discussions with the U.S. remain to be seen. Similarly, President Trump and Canadian Prime Minister Justin Trudeau also met last month, but under somewhat more cordial circumstances. Again, next steps with Canada remain an open question. However, the overarching theme is the oft-repeated promise from the Trump Administration that a border tax will be imposed.  While nothing concrete has been proposed to date, how such a border tax might work has understandably caused varying levels of concern among American companies. Given there is nothing concrete to examine, in this Alert, we seek to provide a brief explanation of the concepts being bandied about.

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The Supreme Court has today ruled that Parliament must vote on whether the government can start the Brexit process. Here, Robert Levy, Executive Partner for Kuits, offers his comments:

“The Supreme Court’s decision today confirming that Parliament must approve the triggering of Article 50 by the UK Government confirms what most lawyers (with the notable exception of the Government’s own lawyers) believed to be the likely outcome of the Appeal.

Read more: Brexit: Supreme Court rules UK Parliament must vote on triggering Article 50

In the last 5 years, Malta’s economy has gone from strength to strength. Last year saw a GDP growth rate of 6.2% and this year, credit agency Standard and Poor’s upgraded it’s rating from BBB+ to A-, the first change in over 20 years. New figures released by the EU Commission this week show an encouraging and positive forecast for the next two years with GDP growth predicted at 4.1% for 2016 and 3.7% in 2017 and 2018. The annual growth rate of 2015 was 6.2% and although the % is slightly decreasing, the country’s economy will remain as one of the fastest growing in the Eurozone.

Read more: European Commission predicts Malta’s GDP as one of the fastest growing in the Eurozone.

Public-private partnerships (“PPP”) take a wide range of forms varying to the extent of involvement of, and risk taken, by the private party. The terms of a PPP are typically set out in a contract or agreement, often subject to the private law, to outline the responsibilities of each party and allocation of risk.

Read more: A Brief Comparison between Ecuadorian and Turkish Public-Private Partnership Arrangements

Ferdausur Rahman, Barrister (Lincoln’s Inn) and Partner, A.S & Associates highlights the business opportunities in the fast growing economy of Bangladesh.

Bangladesh is a booming economy, recently making the list of low-middle income countries as per the World Bank. According to the IMF, the Bangladeshi economy is projected to grow from $180 billion to $322 billion by 2021. The rate of GDP in 2015 was $195.1 Billion and the gradually escalating growth rate was 6.6%. High-growth domestic markets, government support, lower valuations of takeover targets and ready access to capital have provided unprecedented opportunities for investors all across the world to explore new market in Bangladesh. Bangladesh is already one of the leading FDI targets in the Asia Pacific.

Read more: Bangladesh - The New Business Hub of Asia