TRADE POLICY ROUNDUPFebruary 21, 2020
Posted in: Bean Bulletin
With so much going on in the world of trade policy for dry beans, we wanted to provide a brief update on the major issues we are focusing on right now:
China Phase I agreement
5% reduction on dry bean retaliatory import duties to 38%, still not at levels previous to the ongoing trade dispute. We have also learned that Chinese importers can apply for an exemption to bring in U.S. dry beans at previous applied tariff rates.
Discussions continue on prospects for a US/UK trade agreement as the UK continues to define the terms of its trade regime during the transition Brexit year through the end of 2020. The UK government is holding a consultation period on its MFN tariff levels once Brexit is complete in 2021, this is open to comments through March 5, 2020.
There is renewed vigor to engage in trade discussions with the EU. Negotiations are starting up again behind the scenes while ongoing retaliatory tariffs remain in place.
The CAFTA/DR trade agreement has reached full implementation for US Dry Beans. This means that all U.S. origin dry beans enter the Dominican Republic duty free with no limits on tonnage via TRQs. In many ways this opens the market to more bean imports from the U.S but it is also creating some roadblocks. We are addressing these with both the U.S. and DR governments to ensure full market access.