On March 4, 2019, the Office of the United States Trade Representative (USTR) announced that the U.S. intends to terminate the Generalized System of Preferences (GSP) program for India and Turkey. India and Turkey, the largest and fifth-largest beneficiaries of the agreement, will be terminated from the program after the mandatory 60-day waiting period. As per the USTR, the termination of India from GSP stems from market access and other trade barriers. The USTR found that Turkey has developed sufficiently economically. The USTR cites increased Gross National Income per capita, declining poverty rates, and export diversification as evidence of economic development.
Effective January 1, 2019, U.S. customs and border protection without any prior notification implemented newly added unit of measure requirements for 3,393 harmonized tariff codes. The reporting quantity of “X”, which didn’t require any further quantity information, has been replaced with units of measure (i.e. KG, NO, DOZ, G, etc.). Although many commodities across the spectrum were affected by this U.S. customs has update, the importation of jewellery was majorly affected as “unit of measure” is required in order to obtain a U.S. customs release.
The “HONOR Artology: Explore Art & Technology with You(th)” exhibition featured a truly immersive and exclusive art installation designed by top Asian artist RED Hong Yi. The artwork, titled AURORA and made from about 2,000 pieces of recycled glass backs of HONOR smartphones, embodies the avant-garde collaboration between HONOR and RED as they define new ways to create imaginative and contemporary art forms.
MALCA-AMIT FINE ART was proud to be part of the event, providing logistic solutions to bring AURORA all the way from China to Hong Kong and assisting with its piece-by-piece reassembly at the exhibition venue.
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