The European Union let its member countries suspend import duties on medical equipment needed to fight the coronavirus for three more months.
The European Commission allowed EU governments to waive the bloc’s tariffs on goods such as masks, testing kits and ventilators until Oct. 31 amid a resurgence in Covid-19 cases worldwide. The move also maintains a suspension of value-added tax on the products.
“Since the number of Covid-19 infections in member states still poses public health risks and as shortages for goods needed to combat the Covid-19 pandemic are still reported in the member states, it is necessary to extend the period,” the commission, the 27-nation EU’s executive arm in Brussels, said on Monday in the Official Journal.
The EU import-duty and VAT relief was introduced in early April when Europe had become the epicenter of the pandemic and was struggling to contain it. The suspension of levies has applied retroactively from Jan. 30 and was due to lapse on July 31.
The Biden administration is moving to curb low-value shipments entering the US duty-free under the $800 ‘de minimis’ threshold, which it says has been abused by Chinese e-commerce platforms such…
View ArticleIn a joint letter to Dr. Mohammad Yunus — Chief Advisor of the Interim Government of the People’s Republic of Bangladesh — the American Apparel & Footwear Association (AAFA) and…
View ArticleThis report provides a detailed examination of the current state of fraud in the industry, offering insights into the most common types of fraud, the regions and commodities most affected,…
View ArticleIndustry updates and weekly newsletter direct to your inbox!