Global Trade Compliance Updates

Steel measure proposed today by the European Commission is a game changer, for both EU and global trade: https://lnkd.in/eYZ_bFhm 1️⃣ Quota for steel imports in the EU cut in almost half (compared to 2024) 2️⃣ Out-of-quota tariff doubled from 25% to 50% WHAT ARE THE EU'S STATED REASONS FOR DOING THIS? 1. WTO rules require that the current EU steel safeguard (already imposing tariff rate quotas since 2018) expires in June 2026 2. To address global overcapacity in steel (the quota takes imports back to their market share in the EU in 2013, before overcapacity kicked in) 3. Steel restrictions imposed in other countries (esp. the US) are causing trade diversion of steel from third markets to the EU 4. To safe a "strategically crucial industry" and bolster EU economic security 5. To support the EU steel industry in its decarbonization efforts 6. To align itself with "like-minded countries" such as the US, Canada and Mexico who have enacted similar measures GAME CHANGER FOR EU TRADE POLICY: ✅ Beyond trade defense instruments, this is the first time the EU is openly coming to the rescue of an EU industry GAME CHANGER FOR GLOBAL TRADE POLICY: ✅ The EU is not invoking national security (as the US and Canada did) but will renegotiate its bound (MFN) tariff on steel (currently zero) into a tariff-rate-quota in line with GATT Art. XXVIII (this may involve compensating some steel exporters to the EU; EEA countries will be exempted, but "an exclusion of FTA partners' imports [representing 2/3 of total imports] is not possible"; the EU may invoke safeguards under FTAs) ✅ Unlike the current EU safeguard on steel (in place since 2018), the new measure (a tariff renegotiation) is "permanent" (it will be reviewed every 5 years) ✅ The measure effectively creates a "steel club" of like-minded countries who are "ring-fencing their economies form global overcapacity while securing supply chains and increasing mutual market access" (the measure may, indeed, lead to more market access for EU steel exports to the US, pursuant to the EU-US trade deal) WHAT'S NEXT? - The Commission's proposal needs to be approved by the Council and European Parliament - Once authorization obtained by the Council, the Commission can start tariff renegotiations at the WTO in Geneva - Only primary steel products would be covered; within 2 years, a possible product scope extension to downstream products will be considered THE BIG QUESTION: Are other sectors of EU industry, where the same concerns are pressing, next? Or is steel truly special?

Yesterday, the European Commission released two proposals that will materially affect how HR and TA teams use AI and manage people data: The Digital Omnibus Regulation and the AI Act Simplification Amendment. 1. High-Risk AI Timeline Adjustments The fixed August 2026 enforcement date for high-risk AI no longer applies. Obligations will now begin once the Commission confirms supporting tools (standards, guidance) are available, followed by a six-month transition for HR-related high-risk systems. A new final deadline requires compliance no later than December 2027. This creates a more realistic adoption window for HR technology and recruitment AI. 2. Key GDPR Changes for HR The Digital Omnibus updates GDPR to support modern people analytics and AI use: • Clearer definition of personal data, reducing uncertainty when using aggregated or pseudonymised data. • Permission for residual special-category data in AI training under strict safeguards. • Confirmed allowance for biometric verification when controlled by the employee. • Harmonised DPIA requirements across the EU. • Data breach reporting extended to 96 hours, with a unified EU reporting portal. 3. Streamlined Data and AI Governance Several data laws are consolidated into a clearer Data Act, simplifying vendor oversight and data portability. The AI Act amendment also introduces more practical obligations, expanded simplifications for SMEs and small mid-caps, stronger EU-level oversight, and support for using sensitive data to detect or correct bias in hiring and workforce systems. What This Means for HR and TA: The proposals provide clearer rules, reduced administrative burden, a more achievable timeline for high-risk AI, and better support for fair and compliant AI in recruitment and workforce management. Both the Digital Omnibus and the AI Act amendment are Commission proposals and are not yet law. They now enter the EU’s Ordinary Legislative Procedure, where the European Parliament and the Council will review, amend and negotiate the texts before jointly adopting them. Once approved and published in the Official Journal, each Regulation will enter into force and begin applying on the dates specified in the final legislation. If you’d like a tailored breakdown for your organisation or HR tech stack, feel free to get in touch.

I was hoping for a quiet Friday. It didn't happen. Instead OFAC announced their biggest ever package of sanctions on shipping and Russia. 183 ships were sanctioned today including 155 tankers, alongside oil traders/charterers and marine insurers. Whether this huge package succeeds will in part be determined by China and India and if authorities continue to allow sanctioned tankers to enter their ports, amid rising pressure on the biggest buyers, refineries in China, India and Türkiye, and the banks that finance them. That's because after short periods of inactivity most of the Russia-trading tankers designated by EU and UK regulators over 2024 continued to trade uninterrupted. But earlier this week, Shandong’s port authority said it was banning services for US-sanctioned vessels, viewed as a gamechanger for the province, where privately run refineries are main buyers of sanctioned oil, including Russia's. * Of the 155 tankers blacklisted by the Office of Foreign Assets Control today, 68 are part of the so-called dark fleet of elderly, anonymously owned ships, and solely deployed in lifting sanctioned oil from Russia. (most of the others are with Russia government-controlled Sovcomflot) * With today’s action, 35% of the 669 dark fleet tankers shipping Russian, Venezuelan and Iranian oil are now sanctioned by either the US, UK or EU, or in some cases multiple jurisdictions. * About 40%-50% of tonnage used to ship Russian crude is now blacklisted. * Sixty of the 155 tankers named today by Ofac were flagged with Panama and will likely leave that country’s registry within two weeks, under laws that changed in August to fast-track sanctioned tonnage removal. * Thirty-two tankers were flagged with the UK-based Barbados registry. Barbados entered the Russian market in 2024 taking on ships kicked out by other registries after they were sanctioned, or those owned by Sovcomflot. (Barbados said back in November they'll de-flag UK-sanctioned tonnage but not yet said about US sanctions) * Some 15% of the dark fleet are now flying false or unknown flags, the second-largest flag category after Panama, and that number is going to jump dramatically * Following diplomatic pressure by Western countries on flags including Barbados, Gabon, Cook Islands and Cameroon to discontinue providing services to sanctioned ships, the number flying false or unknown flags by using fake registries or continuing to fraudulently broadcast under their prior registry jumped in the last half of 2024. https://lnkd.in/eah_6kdE

PROPOSED US LAWS TO REFORM DE MINIMUS TRADE RULES IN CRACKDOWN ON CHEAP APPAREL IMPORTS: A bipartisan group of U.S. lawmakers has introduced the FIGHTING for America Act, a bill aimed at reforming the de minimis trade provision. The legislation targets the influx of cheap and illicit apparel and textile products into the U.S. market, particularly impacting companies like Shein and Temu that benefit from duty-free shipments under the current law. The bill empowers Customs and Border Protection (CBP) to curb prohibited products, including counterfeits and goods made with forced labor. It proposes stricter regulations for low-value shipments and a US$2 per-shipment fee, which could significantly affect companies sending millions of packages duty-free. Senators Ron Wyden, Cynthia Lummis, Sherrod Brown, Susan Collins, and Bob Casey led the initiative, aiming to protect American businesses and consumers from unsafe imports. Organisations like the National Council of Textile Organizations (NCTO) and the Outdoor Industry Association support the legislation, highlighting its potential to level the playing field for U.S. industries and enhance fair trade practices. OUR STORY: https://lnkd.in/ee_69p85 #TradeReform #USLegislation #ConsumerProtection

🇪🇺𝗣𝗦𝗗𝟯 𝗗𝗲𝗮𝗹 𝗥𝗲𝗮𝗰𝗵𝗲𝗱: 𝗔 𝗦𝗮𝗳𝗲𝗿, 𝗦𝗺𝗮𝗿𝘁𝗲𝗿 𝗙𝘂𝘁𝘂𝗿𝗲 𝗳𝗼𝗿 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗘𝘂𝗿𝗼𝗽𝗲 Last week, the EU reached a major agreement on the new PSR/PSD3 rules, the biggest update to #payment regulation since #PSD2. Big news for anyone who pays, shops, or banks online in Europe. This one directly impacts consumers, banks, and #fintech companies. 💡𝗖𝗵𝗮𝗻𝗴𝗲𝘀 #𝗣𝗦𝗗𝟯 𝗕𝗿𝗶𝗻𝗴𝘀  ➡️ Stronger protection against online #fraud: Online payment fraud is rising fast, especially impersonation scams. The new rules change the balance: • Banks and payment providers must introduce stronger checks (e.g., name-to-IBAN matching, better risk monitoring). • If they fail to prevent obvious fraud, they must reimburse you. • Even in impersonation cases (e.g., “fake bank employee” scams), customers will now have clearer rights. This is one of the biggest consumer wins so far.  ➡️ No more hidden fees: You’ll know exactly how much you will pay before the transaction, including the currency exchange fees, ATM fees, and extra charges from payment providers. This transparency was long overdue, and will especially help frequent travellers and cross-border users like myself. ➡️ More fairness between banks and fintechs: The deal gives non-bank payment providers clearer rules and fairer access, which will likely boost competition and innovation, and it should lead to better products and more choice for users ➡️More control over who sees your data: Open banking continues, but with stronger user control. Users will get simple dashboards to decide who can access your data, for what, and for how long. ➡️  The human touch: no more relying solely on chatbots, customers must have access to real people. This is a big step toward more trust in data-sharing and a healthier digital-finance ecosystem. ➡️Cash access stays protected: Retailers can continue offering cash withdrawals, even without a purchase. Important for rural regions, elderly citizens, and anyone who still depends on cash. 📌 𝗧𝗵𝗶𝘀 𝘂𝗽𝗱𝗮𝘁𝗲 𝗺𝗮𝗿𝗸𝘀 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝘀𝘂𝗯𝘀𝘁𝗮𝗻𝘁𝗶𝗮𝗹 𝗼𝘃𝗲𝗿𝗵𝗮𝘂𝗹 𝗼𝗳 𝗘𝗨 𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 𝘀𝗶𝗻𝗰𝗲 𝗣𝗦𝗗𝟮. 𝗢𝗻𝗰𝗲 𝗮𝗴𝗮𝗶𝗻, 𝘁𝗵𝗲 𝗘𝗨 𝗵𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗶𝘁𝘀 “𝘀𝗮𝗳𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻” 𝗺𝗲𝘀𝘀𝗮𝗴𝗲.    For consumers, it will soon feel like they’re paying for a service they can trust, with no hidden traps and far stronger protection against fraud.  For providers, it means rethinking operations, compliance frameworks, and customer support infrastructures. The roadmap ahead will demand commitment, but ultimately, this deal lays the foundation for a safer, fairer, and more competitive European payments market. (The deal needs to be formally adopted by Parliament and Council before it can come into force.) 💡More information> https://lnkd.in/dUWYd347 #payments #paymentregulation #EU

The "Blue Guide" on the implementation of EU product rules in Europe. If you’re a manufacturer, importer, or distributor in the EU market, you need to know this guide. The Blue Guide, published by the European Commission, is the reference document for understanding how to apply CE marking, ensure compliance, and fulfill your legal obligations as an economic operator. It’s an interpretation guide on the implementation of EU products rules. It tells you how to do things right. Here’s what you’ll learn inside : 📌 What each economic operator must do (clear roles & responsibilities) 📌 How to prove compliance (technical documentation, EU Declaration etc...) 📌 What CE marking really means 📌 How to handle market surveillance 📌 How to deal with products under multiple directives If you want to : ✅ Understand what’s really expected of you ✅ Ensure your products are safe and compliant ✅ Avoid regulatory headaches before they hit Download the document below 👇🏼 Need support to apply it to your products and processes ? Let’s talk I’ll help you turn compliance into a competitive advantage.

🔴 The European Commission is preparing to dramatically tighten restrictions on steel imports by cutting quotas by nearly half and doubling tariffs on excess volumes to 50%. 📝 The aggressive new measures, set to be officially unveiled on October 7, would align the European Union’s steel protection policies with tariff rates already imposed by the United States and Canada as Western allies coordinate efforts to combat massive overcapacity created by subsidized Chinese steel factories. 🔎 The Commission will propose slashing current steel import quotas by approximately 50%. This represents a dramatic escalation from the 15% quota tightening that took effect on April 1, 2025. 📈 Duties on steel volumes exceeding the new, lower quotas would be raised from the current 25% to 50% – matching tariff rates imposed by both the United States and Canada. 📆 The new package for the steel sector will be officially presented on October 7, 2025. Current steel safeguards are set to expire on June 30, 2026. 💡 According to the Organization for Economic Co-operation and Development (OECD), global steel overcapacity is projected to reach 721 million metric tons by 2027 – driven notably by subsidized Chinese factories that can produce far more steel than global markets can absorb. 🟠 European steel groups have been pressing for these dramatic changes, arguing that current quotas are 26% above original levels while demand has actually declined. This mismatch has left European producers struggling to compete with cheaper imports flooding the market. #steel #EU Source: apnews.org 📸 worldview.stratfor.com

3 letters can block your device from global markets.   UDI isn't just another compliance checkbox.   It's your passport to selling medical devices worldwide.   Get it wrong and you lose access to entire regions. Get it right and doors open across continents.   Here's what matters for global UDI success:   EU UDI Requirements ↳ Basic UDI-DI structure is non-negotiable ↳ Data for new UDI-DIs entered at market placement; updates within 30 days ↳ UDI active; carrier deadlines — labels 2025, direct marking 2027 ↳ Grace periods vary by device class and carrier type   US UDI Requirements ↳ FDA system tracks devices through distribution ↳ Direct marking for reusables due ~2 years after label compliance ↳ GUDID submission before US distribution ↳ All classes now in effect   UK UDI Requirements ↳ UKCA marking required by June 2028 ↳ CE marks accepted in GB until 2030; legacy devices until 2028 or expiry ↳ Future database system in development ↳ Northern Ireland follows different rules   Common mistakes that cost companies millions:   ❌ Confusing Basic UDI-DI with UDI-DI ❌ Assuming EUDAMED is fully ready ❌ Missing FDA listing requirements ❌ Wrong device classification ❌ Incomplete GUDID submissions ❌ Ignoring UKCA/CE mark differences   The strategic approach that works:   ✅ Start with Basic UDI-DI structure ✅ Plan for all three regions simultaneously ✅ Validate data in sandbox environments ✅ Maintain dual CE/UKCA strategy ✅ Keep production records current ✅ Register UK Responsible Person early   Here's the truth:   UDI compliance isn't about meeting minimum requirements.   It's about: → Enabling global traceability → Protecting patient safety → Streamlining recalls if needed → Building regulatory trust   The timeline is tightening: • EUDAMED delays won't last forever • UK requirements are non-negotiable • FDA enforcement is increasing   Smart MedTech leaders treat UDI as infrastructure. Not overhead.   Because every device needs identity. Every market has rules. Every delay costs opportunity.   Which market challenges you most? ⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡ MedTech regulatory challenges can be complex, but smart strategies, cutting-edge tools, and expert insights can make all the difference. I'm Tibor, passionate about leveraging AI to transform how regulatory processes are automated and managed. Let's connect and collaborate to streamline regulatory work for everyone! #automation #regulatoryaffairs #medicaldevices

🚨 AliExpress, Temu & Sri Lanka Customs – A Smart, Technology-Driven Solution 🚨 The heated debate over AliExpress and Temu delivery delays has sparked finger-pointing, but I ask: why aren’t we deploying a technology-led solution to fix this? Nestled between China and India, Sri Lanka has a golden opportunity to become Asia’s e-commerce hub. This is our chance to generate vital foreign currency—let’s not miss it! Transparency, as practiced globally, is key to achieving this. A digital interface (API) from Sri Lanka Customs to calculate duties and taxes is long overdue. Parcel delays and rising customs issues reflect a broader need: a scalable, tech-backed framework to protect revenue, prevent B2B misuse of B2C channels, and keep cross-border commerce flowing. Here’s a practical, globally aligned solution Sri Lanka can adopt: ✅ Customers register online using NIC and liveness verification. ✅ Each registered customer receives a Unique Import ID, added to their shipping address. ✅ Platforms like AliExpress and Temu can opt to integrate with a Customs API to calculate duties at checkout. ✅ Post-order, customers log into a customs portal to: Enter order value and date, Upload a screenshot of the order confirmation. ✅ On arrival, high-speed OCR systems bulk-scan parcels to extract names and Import IDs from labels. ✅ Parcels matching the Customs database move to the green channel; others are flagged for red channel inspection. ✅ Analytics monitor frequent imports by the same customer to detect potential B2B activity. 💡 This solution requires minimal changes from eCommerce platforms yet aligns with global best practices, like: The EU’s IOSS system collects VAT upfront and transmits order data to customs. Singapore’s digitized GST collection at checkout. Australia’s pre-collected GST and electronic import validation. Sri Lanka can implement this Customs Interface and Scanning System via a Public-Private Partnership. A small per-order fee funds infrastructure and investor returns—zero public spending required. We don’t need to restrict global eCommerce; we need to modernize how we manage it. Sri Lanka can lead with a smart, inclusive, and sustainable model, positioning itself as Asia’s eCommerce hub. As President Anura Kumara Dissanayake recently said, "Digitalization is the key driver that can propel Sri Lanka to a new stage of development.” Why not seize this moment to make it happen? Anura Kumara Dissanayake, Chathuranga Abeysinghe FCMA CGMA, Harsha de Silva, Anil Jayantha, P Nandalal Weerasinghe

🚨 OFAC Issues Alert on Sanctions Risks for Institutions Joining Russia’s SPFS As compliance professionals, staying informed on geopolitical risks and sanctions updates is critical. On November 21, 2024, the Office of Foreign Assets Control (OFAC) issued a significant warning targeting foreign financial institutions considering participation in Russia’s System for Transfer of Financial Messages (SPFS). SPFS, designed by the Central Bank of Russia as an alternative to SWIFT, is now under increased scrutiny. OFAC has flagged participation in SPFS as a potential sanctions risk, emphasizing its role in facilitating the operations of sanctioned entities and evading international restrictions. Key Points; • Joining SPFS could trigger penalties under Executive Order 14024, targeting harmful foreign activities. • OFAC considers SPFS participation a red flag and warns of aggressive enforcement against entities supporting it. • Financial institutions are advised to evaluate their exposure to SPFS-related activities to avoid being inadvertently used as conduits for sanctions evasion. What Does This Mean for Compliance? This alert underscores the need for enhanced due diligence and robust risk assessments when engaging with counterparties in regions subject to U.S. sanctions. Institutions must ensure their operations and partnerships align with global regulatory frameworks to avoid reputational and financial consequences. How are your organisations preparing for these heightened sanctions risks? Are your due diligence systems ready for the increased scrutiny? #Compliance #AML #Sanctions #OFAC #FinancialCrime #RiskManagement #SPFS #regulation #kyt #crossborderpayments #blockchain