“Proposed by MG Motor” is probably the most ridiculous car
We're not kidding; that's the name SAIC Group chose for its new brand in Australia go through Brad Anderson March 27, 2025 11:41 IM Motors will debut in Australia, just like MG offers IM with high-performance electric cars. The brand is part of the SAIC Group and offers 400V, 800V and 900V architectures. Like other Chinese electric cars, these models have no chance to come to the United States. IM Motors is ready to enter Australia's fast-growing electric vehicle market, let's face it, already dominated by Chinese cars. However, the company's brand has taken some weird moves: These vehicles will be sold under the newly named I've proposed it by MG Motor brand. We'll let the name sink for a while - yes, it doesn't completely get rid of the tongue. But despite the curious nickname, the company plans to introduce two interesting models locally. The IM5 and IM6 have been sold in China under the names of L6 and…
Proposed U.S. port port fee could trigger $100
The proposed charging structure of the U.S. Trade Representative (USTR) targets ships built in China could cost the container transport industry more than $100.69 billion a year, raising concerns about widespread damage to global trade. Read also: Courses for developing through tariff blitz, shifting trade policy and supply chain disruptions The USTR's February proposal is part of a Article 301 investigation into China's maritime dominance, determining that China's practices are "unreasonable" and harmful to U.S. business, and justifying the intervention. The program includes port entry fees, up to Chinese vessels per call, and provides operators with $1 million for their fleet or orders. Experts believe these steep costs will affect almost all major marine airlines in the United States, ultimately driving prices for American consumers. Another name for tariffs? McCown, a former CEO of U.S. ship container transportation and a Harvard Business School graduate, warned that the proposed fees would act as de facto tariffs with serious unintended consequences. His…
Australia: Loose Compliance – ASIC’s Proposed Report
ASIC is seeking feedback on their recommendations to alleviate the reporting burden of Australian financial services and credit licensors in certain circumstances in short On February 18, 2025, ASIC began to consult on: Provide additional relief to Australian Financial Services and Credit Licensors to report certain violations of misleading and deceptive conduct (MDC) provisions and certain violations of the Civil Penalty Provisions (CPP); and Consolidate this additional relief and relief ASIC Corporation and Credit (Breach Report - Reportable Situation) Instruments 2024/620 (ASIC Instrument 2024/620) Enter a single instrument. As stated in CS 16, these recommendations are intended to reduce the reporting burden on Australian financial services and credit licensors. In the current reportable situation, the ASIC changes are justified by the fact that some reports on MDC and CPP violations have the lowest intelligence value for ASICs. CS 16 was released on February 18, 2025, and the consultation will end on March 11, 2025. An ASIC media release outlined proposed…
Vietnam: New proposed decree on customs procedures
The Ministry of Finance (MOF) restored the ordinance on customs procedures for e-commerce goods by releasing a new draft (“Draft laws”) manages various issues in cross-border e-commerce. These issues include customs filers, risk management, data processing, import licensing exemptions, import taxes, customs valuations and customs procedures. The focus of the ordinance is on the following issues: Customs procedures for trading export and import goods through e-commerce, including goods sent through postal and express services Inspections, professional management and tax policies for export and imported goods through e-commerce transactions Electronic customs data processing system for trading exported and imported goods through e-commerce. Owners who provide e-commerce services, transportation companies, customs brokers, margin warehouse commercial enterprises, postal and rapid delivery service providers, credit institutions and other relevant organizations and individuals will be required to comply with this draft statute. Orders of up to 2 million (approximately USD 80) imported under this customary system shall be entitled to exempt physical inspections and import…
Australia: Australians seek industry feedback on proposed new
Australians have released their first public consultation on new anti-money laundering and Counter-Terrorism Financing (AML/CTF) rules, inviting industry feedback. in short After the recent adoption of the Anti-Money Laundering and Counter-Terrorism Financing Amendment 2024 (CTH) (""AML/CTF Amendment”), Australians are now turning their attention to modifying current AML/CTF rules to provide clarity and guidance on major changes to the AML/CTF regime. Austrac released the first exposure draft, which details the proposed amendment to the AML/CTF rules (""New rules”) and invited industry feedback on the content of the draft exposed. The Australian aims to build new rules in a way that enables the reporting entity to relate to its AML/CTF obligations and removes excessive provisions and stringent requirements and comply with AML/issues the CTF obligations to the reporting entity in a manner that complies with its AML/. Consultations on the first exposure of the draft will remain open until February 14, 2025. The first exposure draft provides information related to AML/CTF programs,…
Hong Kong: Proposed reintroduction system
in short December 20, 2024, Hong Kong Government Gazette (Amendment) (No. 2) 2024 (""bill”) introduces the introvert reintroduction system that Hong Kong expects. The bill introduced it to the Legislative Council on January 8, 2025 and, after its enactment, will enable non-Hong Kong-based companies to relocate their residences to Hong Kong while maintaining their laws Identity and business continuity. The proposed re-decomposition system only allows for inward re-introduction, providing a mechanism for companies that are not broad-based to integrate companies into Hong Kong. It applies to companies currently designated in the Company Ordinance (CO) (or comparable types in the original residence): Private Company Limited Stocks Listed companies with limited shares Private unlimited company with equity capital Public unlimited companies with equity capital Companies that do not include equity restrictions limit companies and other types of companies that are not specified in CO. The proposed Hong Kong re-decomposition regime is more flexible than comparative jurisdictions such as Singapore: (1) No economic…
FDA releases proposed rule on front-of-pack nutrition
The U.S. Food and Drug Administration (FDA) has released a proposed rule that would require most packaged foods to bear a front-of-package (FOP) nutrition label.Rule detailsThe label, called a "Nutrition Information Box," must contain the amounts (per serving) of three nutrients:saturated fatsodiumadded sugarLabels must also list whether the amount of these ingredients is "low," "medium," or "high" per serving.FDA recommends that businesses with annual food sales of $10 million or more have three years after the final rule takes effect to comply. Businesses with annual food sales of less than $10 million will have four years to comply.FDA IntentThe FDA said the nutritional information boxes would supplement the Nutrition Facts label already required for most packaged foods. While Nutrition Facts labels are helpful to many consumers, the FDA has found that certain groups of people don't read labels as often as they should.Therefore, the rule is designed to provide accessible, at-a-glance information to help consumers quickly and easily identify how…
CBP issues proposed rules to enhance low-value shipments
U.S. Customs and Border Protection (CBP) announced a Notice of Proposed Rulemaking (NPRM) that would impose new data collection requirements for low-value shipments, also known as de minimis shipments. If passed, the rule would create a new alternative process for entering low-value goods. The new process will require the submission of advance data such as origin, destination and cargo contents.minimal backgroundconcept minimum Shipments to the United States result from customs regulations designed to simplify the importation of low-value goods. the term"minimum” refers to goods below a certain value threshold that allow them to enter the country with minimal duties or taxes.Historically, the threshold was set at $200, but was raised to $800 in 2016 under the Trade Facilitation and Trade Enforcement Act (TFTEA). This change is intended to reduce CBP's administrative burden and facilitate faster processing of the rapidly increasing volume of e-commerce shipments. Over the past decade, the number of shipments applying for de minimis exemptions has increased significantly,…
World Bank warns of proposed global economic impact
The World Bank has issued a warning report on the impact of proposed U.S. tariffs, suggesting global economic growth could be hampered if countries retaliate with tariffs of their own. According to Reuters, the imposition of a comprehensive 10% tariff may further reduce global economic growth in 2025 by 0.3 percentage points from the expected 2.7%. In addition, potential retaliation could reduce the U.S. economic growth forecast for 2025 by 0.9%, or 2.3%. Also read: World Bank warns it could take more than a century to end poverty in half the world The World Bank's Global Economic Prospects report highlights that the global economic outlook is essentially stagnant, with growth rates of 2.7% in 2025 and 2026, the same as in 2024. Additionally, IndexBox data shows a significant increase in global trade restrictions, now five times greater between 2010 and 2019. Combined with the fact that foreign direct investment in developing economies has halved since the early 2000s, it paints…
Santa’s proposed new sleigh is a Ford Ranger Raptor
Ranger Raptor-based Santamobile comes with tiny rocket engines, an 'infinity' bed and, of course, wings Ford Australia has created a fictional Ranger Raptor North Edition for a very special customer. The truck comes with wings, a roof hatch, a tailgate grill, and a tiny rocket engine. The concept was presented in sketch form as a Christmas holiday special. Ford Australia is getting into the festive spirit with the launch of a truck concept designed specifically for Kris Kringle, also known as Santa Claus. The Ford Ranger Raptor North Edition adds wings and propellers to the truck, as well as cool features like a tailgate grill. The festive special is the brainchild of Australian Ford designer Kirby Masterman and is expected to "never" enter production. The sketches were shown to the bearded customer, highlighting the custom features compared to the standard Ranger Raptor. More: Santa's Dodge Challenger SRT Hellcat Redeye sleigh is real and you can see it in Los Angeles…
Trump’s proposed tariffs could trigger price hikes
President-elect Donald Trump's plan to impose tariffs on imports from China, Canada and Mexico has raised concerns among experts about potential negative impacts on North American companies and global supply chains. For more details, you can read the full article on the potential impact of these tariffs here. On his first day in office, Trump plans to impose 25% tariffs on Mexican and Canadian goods and an additional 10% tariff on Chinese imports. Also read: Strike fears and potential tariff hikes drive import surge at U.S. ports As stated on Truth Social on November 25, these tariffs are part of Trump’s “America First” strategy to curb illegal immigration and drug trafficking. Industry professionals such as CH Robinson's Sri Laxmana and Fictiv's Andy Sherman are highly concerned about these looming changes, which will have significant implications for global supply chains. The non-knitted men's apparel market will be one of the industries severely affected by these tariffs. According to IndexBox data, China…
Global leaders warn of proposed economic impact
Officials in Mexico, Canada and China have expressed strong concerns about U.S. President-elect Donald Trump's proposal to impose sweeping tariffs on goods from these major trading partners. Officials have warned that such measures could harm all economies involved, fuel inflation, disrupt the job market and destabilize global trade. Also read: “US importers to face tariffs regardless of election outcome” The tariffs announced Monday include a 25% tariff on imports from Canada and Mexico, and an additional 10% on Chinese goods. Trump said the need to combat the flow of illegal drugs and strengthen border controls were key drivers behind the move. Leaders of affected countries have urged dialogue to prevent economic damage. Mexican President Claudia Sheinbaum expressed her concerns at a press conference, saying: "One tariff will lead to another, putting our mutual business at risk." Sheinbaum intends to The issue was discussed directly with Trump in a letter and planned phone call. Likewise, Bank of Canada Deputy Governor Rees…
Malaysia: Public consultation on proposed climate changes
in short Malaysia is expected to establish a comprehensive framework to regulate, implement and enforce actions/initiatives aimed at steering a low-carbon economy. The Department of Natural Resources and Environmental Sustainability (NRES) is leading the development of the proposals for the Climate Change Bill and is publishing a consultation document to solicit views and feedback. The introduction of the Climate Change Bill is the result of Malaysia's determination to fulfill its commitments under the Paris Agreement and to reduce Malaysia's greenhouse gas emissions. Malaysia currently has no specific legislation addressing climate change. NRES is mandated to spearhead the enactment of legislation that aims to address all issues related to climate change and strengthen Malaysia’s climate change governance at the international and domestic levels. As part of the process of developing and drafting the Climate Change Bill, NRES is seeking public input and feedback to ensure the legislation comprehensively addresses relevant issues and is proportionate to the outcomes and outcomes. You can…
Australia: Important update on proposed AML/CTF Bill –
The Australian government has proposed an amendment to Parliament that would reformulate the AML/CTF scheme and KYC requirements and extend the AML/CTF regime to new types of entities. in short On 11 September 2024, the Australian Government released a highly anticipated bill proposing to extend the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime to real estate professionals, including lawyers, accountants, trusts and companies Service Providers Service Providers and Gem and Metal Dealers (Batch two entities). Click here to access the full alert.
Australia: Treasury publishes proposed merger notification
brief Today, the Australian Treasury released a consultation paper on the proposed monetary and market share thresholds that would trigger the requirement to notify an acquisition to the Australian Competition and Consumer Commission (ACCC).Australian Competition and Consumer Commission) is part of the federal government’s proposed new mandatory merger control regime. Transactions proposed to meet either threshold must be notified to and approved by the ACCC, and there are penalties for failing to notify or for proceeding with a notifiable merger without prior notification to the ACCC. The consultation document is available here and submissions close on September 20, 2024. The proposed merger notification thresholds include a monetary threshold and a market concentration threshold. The proposed thresholds are shown in the table below and have been published in the consultation document. The consultation paper states that the proposed thresholds are based on international practice and available ACCC data. These thresholds are designed to target anti-competitive and economically significant acquisitions, including serial…
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