The World Trade Organization's Agreement on Fisheries Subsidies took effect Sept. 15 during a special General Council meeting after instruments of acceptance were received from Brazil, Kenya, Vietnam and Tonga, the WTO announced. Those acceptances brought the total number over the two-thirds threshold needed for the deal to enter into force (see 2508250013).
The president of Mexico has introduced a bill increasing tariffs on goods from countries with which it does not have a free trade agreement, including China. The measure would bring most tariffs to a rate of 35%, with some as high as 50%.
The European Parliament on Sept. 10 gave its final approval for a revised carbon border adjustment mechanism that it said will exempt 90% of European importers from the new rules. The change, first unveiled by the European Commission in a May proposal (see 2505230008 and 2506180053), aims to “reduce the administrative burden” for smaller and mid-sized European companies, or those that are “occasional importers,” the Parliament said.
The EU wasn't willing to gamble on a trade war, European Commission President Ursula von der Leyen said in her annual "State of the EU" speech.
The Universal Postal Union, an organization that helps to coordinate postal services around the world, says it has developed some workarounds for international mail carriers that will be held liable for U.S. customs duties now that the de minimis exemption no longer is in place.
Mexican President Claudia Sheinbaum confirmed that her government is considering imposing tariffs on countries with which Mexico doesn't have a trade agreement, including China.
Australian small businesses were given too little time to comply with the U.S. decision to end the de minimis exemption for low-value imports (see 2508280062), said Don Farrell, Australia’s trade minister. Farrell said he raised Australia’s "disappointment" earlier in the week with U.S. Trade Representative General Counsel Jennifer Thornton, adding that the move is mostly hurting “mum and dad operations that have had a successful product going into” the U.S.
The top trade negotiator from Japan canceled his trip to the U.S. this week, which was meant to nail down a reduction in auto tariff rates for Japan, Bloomberg reported. While the overall reciprocal tariff rate is 15% for Japan, the country has not received the 15% rate on autos and auto parts, as agreed to in July, it said.
Mexico has joined other countries in opting to temporarily suspend low-value shipments to the U.S. amid uncertainties over how international carriers must comply with levying duties, according to multiple news reports. It's now one of more than 25 other countries that have stopped low-value shipments to the U.S. and await guidance from CBP on how to proceed (see 2508260026).
More international postal carriers have announced that they are temporarily suspending shipments to the U.S. that would've been eligible for the de minimis exception, according to multiple news sources (see 2508210036).