Tax & Accounting Blog

Is Everything Negotiable in Trade?

Is Everything Negotiable in Trade?

In January 2017, I wrote an article shortly after the Trump Administration took office discussing their official withdrawal from the Trans-Pacific Partnership (TPP). This answered my own rhetorical question of whether the U.S. withdrawal effectively killed all new multilateral agreements with the response, “it depends on who you ask.”[1]  Since then, many (including … Read More

What It Means to Japan Now That the U.S. Is No Longer Participating In the TPP

What It Means to Japan Now That the U.S. Is No Longer Participating In the TPP

The official announcement, January 20, 2017, from the U.S. President regarding separation as a member of the Trans Pacific Partnership Agreement (TPP) was an unexpected outcome for most industries in Japan.  Japan had much to gain with the U.S. on this agreement and had been looking to establish new processes and procedures based on the … Read More

How FTAs Affect the Pharmaceutical Industry: A Discussion About TRIPS

How FTAs Affect the Pharmaceutical Industry: A Discussion About TRIPS

The purpose of a free trade agreement (FTA) is to increase access to international economies. FTAs reduce barriers associated with importing goods — generally, these agreements reduce import taxes on individual items, which allow goods to be competitive with domestically produced products. Pharmaceuticals, however, are a unique kind of good with regards to trade. According … Read More

Will the Wave of Protectionism Make International Trade Great Again?

Will the Wave of Protectionism Make International Trade Great Again?

Unquestionably, international trade flows have exploded throughout the century.  Countries have been using the global transaction of goods as a main source to obtain foreign exchange. A main objective for countries is to maintain a favorable trade balance. To achieve this objective, most countries take the position to export as much as possible and import … Read More

The WCO 2017 Tariff Classification Changes and the Effects upon Thailand Adoption

The WCO 2017 Tariff Classification Changes and the Effects upon Thailand Adoption

WCO 2017 Version of the Harmonized System Every 5 years the World Customs Organization has the duty under the 1983 HS Convention Article 16 to provide an update amendment, guideline and recommendation of an “Internationally Standardized and Recognized System of Names and Numbers”.  The “Harmonized Commodity Description and Coding System”, abbreviated as “HS”, … Read More