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Commercial Awareness Update - April 2019!
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<blockquote data-quote="Angel" data-source="post: 10654" data-attributes="member: 980"><p><span style="color: #ff0000">Hi everyone!</span></p><p><span style="color: #ff0000"></span></p><p><span style="color: #ff0000">Hope you have all been well, and welcome to the first commercial news update in April! Happy reading! </span></p><p></p><p><span style="color: #4d4dff"><strong>Commercial News Update - 3rd April 2019</strong></span></p><p><span style="color: #4d4dff"></span></p><p><span style="color: #4d4dff">Topics covered this week: </span></p><p><span style="color: #4d4dff"></span></p><p><span style="color: #4d4dff">1. Progress in US-China trade talks – [USER=260]@Abstruser[/USER] </span></p><p><span style="color: #4d4dff">2. Approval of Draft EU Copyright Directive – [USER=157]@kitk[/USER] </span></p><p><span style="color: #4d4dff">3. Jaguar Land Rover’s victory in the Chinese Courts - [USER=201]@bugsy malone[/USER] </span></p><p><span style="color: #4d4dff">4. The Mueller Report – [USER=980]@Angel[/USER] </span></p><p><span style="color: #4d4dff"></span></p><p><span style="color: #4d4dff"><em>(Personal views of authors may be implied)</em></span></p><p></p><p><strong><u><span style="color: #000000">Progress in US-China trade talks (by [USER=260]@Abstruser[/USER])</span></u></strong></p><p></p><p><strong><span style="color: #000000">The story:</span></strong></p><p><span style="color: #000000"></span></p><p><span style="color: #000000">Last Friday, China and the US concluded the latest round of trade talks between the two countries. US Treasury secretary Steven Mnuchin described the talks, which took place in Beijing, as “candid and constructive”, and negotiations are expected to continue in Washington this week. </span></p><p><span style="color: #000000"></span></p><p><span style="color: #000000">The negotiations take place against the backdrop of an uneasy truce between the two countries. President Trump had previously threatened to increase tariffs on $200 billion worth of Chinese goods from 10% to 25% if a trade agreement was not reached by March 1. However, in mid-February, President Trump delayed the deadline in light of progress being made in negotiations, stating that “[t]he date is not a magical date because a lot of things are happening.” </span></p><p></p><p><span style="color: #000000">Presently, 10% tariffs continue to be applied on $200 billion of Chinese goods, including items such as soybeans and medical equipment. As President Trump did not officially commit to extending the deadline, the threat of higher 25% tariffs still hangs over US-China trade negotiations.</span></p><p><span style="color: #000000"></span></p><p><span style="color: #000000">Spokesmen for both countries have indicated that a trade agreement is not expected to be reached for a significant while yet. Chinese officials stated that they hope to reach an agreement by April or May, while US economic advisor Larry Kudlow stated “If it takes a few more weeks, or if it takes months, so be it.” </span></p><p></p><p><strong><span style="color: #000000">Impact on businesses and law firms:</span></strong></p><p></p><p><span style="color: #000000">The ongoing political tension between both countries is particularly disruptive for businesses running international operations. US LNG supplier Cheniere, for example, has been unable to renew substantial supply contracts with its Chinese buyers, due to China imposing 10% tariffs on US LNG imports. Similarly, one of China’s largest carmakers, Guangzhou Automobile Group suspended its plans to export its new line of sports vehicles to the US due to steep tariffs on Chinese cars. </span></p><p><span style="color: #000000"></span></p><p><span style="color: #000000">Law firms will likely continue to monitor the political landscape and take steps to manage political risk in clients’ business activities. The US-China trade talks also serve to underline the growing trend of countries concluding preferential trade agreements with one another. For instance, just last year, the EU concluded two prominent trade agreements with Singapore and Canada. The proliferation of these international agreements, which are governed by international law, is likely to continue creating new opportunities for law firms to assist businesses with treaty interpretation and dispute resolution under these agreements.</span></p></blockquote><p></p>
[QUOTE="Angel, post: 10654, member: 980"] [COLOR=#ff0000]Hi everyone! Hope you have all been well, and welcome to the first commercial news update in April! Happy reading! [/COLOR] [COLOR=#4d4dff][B]Commercial News Update - 3rd April 2019[/B] Topics covered this week: 1. Progress in US-China trade talks – [USER=260]@Abstruser[/USER] 2. Approval of Draft EU Copyright Directive – [USER=157]@kitk[/USER] 3. Jaguar Land Rover’s victory in the Chinese Courts - [USER=201]@bugsy malone[/USER] 4. The Mueller Report – [USER=980]@Angel[/USER] [I](Personal views of authors may be implied)[/I][/COLOR] [B][U][COLOR=#000000]Progress in US-China trade talks (by [USER=260]@Abstruser[/USER])[/COLOR][/U][/B] [B][COLOR=#000000]The story:[/COLOR][/B] [COLOR=#000000] Last Friday, China and the US concluded the latest round of trade talks between the two countries. US Treasury secretary Steven Mnuchin described the talks, which took place in Beijing, as “candid and constructive”, and negotiations are expected to continue in Washington this week. The negotiations take place against the backdrop of an uneasy truce between the two countries. President Trump had previously threatened to increase tariffs on $200 billion worth of Chinese goods from 10% to 25% if a trade agreement was not reached by March 1. However, in mid-February, President Trump delayed the deadline in light of progress being made in negotiations, stating that “[t]he date is not a magical date because a lot of things are happening.” [/COLOR] [COLOR=#000000]Presently, 10% tariffs continue to be applied on $200 billion of Chinese goods, including items such as soybeans and medical equipment. As President Trump did not officially commit to extending the deadline, the threat of higher 25% tariffs still hangs over US-China trade negotiations. Spokesmen for both countries have indicated that a trade agreement is not expected to be reached for a significant while yet. Chinese officials stated that they hope to reach an agreement by April or May, while US economic advisor Larry Kudlow stated “If it takes a few more weeks, or if it takes months, so be it.” [/COLOR] [B][COLOR=#000000]Impact on businesses and law firms:[/COLOR][/B] [COLOR=#000000]The ongoing political tension between both countries is particularly disruptive for businesses running international operations. US LNG supplier Cheniere, for example, has been unable to renew substantial supply contracts with its Chinese buyers, due to China imposing 10% tariffs on US LNG imports. Similarly, one of China’s largest carmakers, Guangzhou Automobile Group suspended its plans to export its new line of sports vehicles to the US due to steep tariffs on Chinese cars. Law firms will likely continue to monitor the political landscape and take steps to manage political risk in clients’ business activities. The US-China trade talks also serve to underline the growing trend of countries concluding preferential trade agreements with one another. For instance, just last year, the EU concluded two prominent trade agreements with Singapore and Canada. The proliferation of these international agreements, which are governed by international law, is likely to continue creating new opportunities for law firms to assist businesses with treaty interpretation and dispute resolution under these agreements.[/COLOR] [/QUOTE]
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