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Houthi forces resumed attacks on merchant shipping in the Red Sea after a months-long lull — the first sustained attacks since late 2025. On July 5 a bulker came under gunfire about 30 nautical miles southwest of Hodeidah, with the crew safe; on July 6 the Liberian-flagged, Greek-owned bulker Magic Seas was attacked 51 nautical miles southwest of Al-Hudaydah with drones, missiles, RPGs and small arms — the crew of 22 abandoned ship and the vessel sank, as confirmed by Houthi-released video. On July 7 the Greek-owned Eternity C was attacked by UAVs and RPG-armed speedboats and sank on July 9; 4 crew were killed and 11 mariners, Indian and Filipino, were seized and remained in Houthi custody as of July 10. The Houthis declared a ban on ships they deem 'Israeli-linked,' and US MARAD issued advisory 2026-006 for the Red Sea, Bab el-Mandeb and Gulf of Aden. Suez containership transits were already about 60% below pre-crisis levels — roughly 26 per week versus about 80 — and Maersk had re-diverted select services via the Cape of Good Hope from March 2026. The sinkings entrench Cape routing, which typically adds 10-14 days of transit plus higher fuel and war-risk premiums on Asia-Europe and Asia-US East Coast lanes.
Procedures & reviews
Coverage: Export country All → Import country All · HS All
On July 9, 2026 the European Commission opened a public consultation, with feedback accepted until August 6, 2026, on a draft delegated regulation governing the sale and repurchase of CBAM certificates, the operation of the common central platform, fees, and the platform's interaction with the CBAM Registry. Under the draft, certificates are non-transferable and non-tradable; each carries a unique ID and is assigned exclusively to the purchasing declarant. Declarants place purchase and repurchase requests in the CBAM Registry, and the platform processes the payments. Certificates go on sale February 1, 2027, and the first surrender deadline is September 30, 2027, covering 2026 imports. 2026 remains a data-collection year with no quarterly reports and no certificate purchases; the Q2 2026 reference price of €75.28, published July 6, is the latest price signal.
Procedures & reviews
Coverage: Export country All → Import country EU · HS 72 · 73 · 76 · 25 · 28 · 31
On July 6, 2026 the European Commission published the Q2 2026 CBAM certificate quarterly reference price: €75.28/tCO2e, versus €75.36 for Q1 (published April 7), computed as the weighted average of EU ETS auction clearing prices over the quarter. Publication is quarterly through 2026 and moves to weekly from 2027. Compliance framing under the definitive regime in force since January 1, 2026: the transitional quarterly CBAM reports ended with the Q4 2025 report — there is no quarterly declaration due July 6 and no certificate purchases in 2026. This year's obligations are limited to importers above the 50-tonne/year de minimis becoming authorised CBAM declarants and collecting verified emissions data. Certificate sales open February 1, 2027 on the central platform, and the first annual CBAM declaration plus certificate surrender deadline is September 30, 2027 (postponed from the original May 31, 2027). With the 2026 adjustment factor at 2.5%, the cash impact stays small this year (roughly €1-4 per tonne of imported steel); the price matters mainly for modeling the 2027-2034 ramp.
Procedures & reviews
Coverage: Export country All → Import country EU · HS 72 · 73 · 76 · 25 · 28 · 31
MOFCOM Announcement No. 24 of 2026 (June 24) published the Working Measures for Industrial and Supply Chain Security Investigations — the implementing procedures under State Council Order No. 834 (effective May 1, 2026). The measures establish a §301-style investigative mechanism on the Chinese side, aimed at foreign countries, regions, or international organizations that impose discriminatory prohibitions or restrictions on Chinese supply chains, with legal basis in the National Security Law, Foreign Relations Law, Anti-Foreign Sanctions Law, and Foreign Trade Law. Investigation tools include questioning, document seizure and copying, public solicitation of leads, questionnaires, technical evaluation, hearings, and on-site investigation; Chinese firms can petition MOFCOM in writing with evidence via a private-complaint channel. The outcome menu spans prohibiting or restricting imports/exports of goods, technology and services trade, a novel 'special fees' instrument, and Anti-Foreign-Sanctions-Law sanctions. As a companion enforcement signal, MOFCOM Announcement No. 26 (June 24, effective July 1) created a whistleblower reporting-and-reward mechanism for strategic-minerals export-control violations — unlicensed exports, disguising controlled items as components, third-country transshipment, and providing logistics, customs, e-commerce or financial services to unlawful exports. On June 18, the chairman of a major Chinese precision-optics company was placed under compulsory measures by Shanghai Customs for falsely declaring germanium-containing lenses as 'ordinary optical glass'.
TariffsProcedures & reviewsExport controls
Coverage: Export country CN → Import country All · HS All
European Commission publishes the first quarterly CBAM price on April 7: €75.36/tCO₂. Combined with the 2.5% 2026 adjustment factor, real cost per tonne of imported steel is approximately €3.77. Q2/Q3/Q4 prices scheduled for July 6, October 5, January 4 2027.
Other
Coverage: Export country All → Import country EU · HS 25 · 27 · 28 · 31 · 72 · 73 · 76
On March 31, 2026, China's State Council promulgated Order No. 834 — the Provisions on the Security of Industrial and Supply Chains — the PRC's first dedicated framework regulation for industrial and supply-chain security. The order, jointly enforced by MOFCOM and MIIT, provides the legal basis for sanctioning foreign companies, applies a 50% Rule for products incorporating controlled components, and embeds extraterritorial jurisdiction under the October 2025 export-control framework (extraterritorial enforcement deferred until November 2026). Effective May 1, 2026. The order serves as China's structural response to US trade-tool escalation through 2026 — paralleling §301 / §232 / IEEPA on the PRC retaliatory side.
TariffsExport controls
Coverage: Export country CN → Import country All · HS All
From March 31 2026 every importer of CBAM-covered goods into the EU must hold Authorized CBAM Declarant status. Each shipment requires verified facility-level embedded-emissions data. Non-compliant shipments face entry rejection.
Procedures & reviews
Coverage: Export country All → Import country EU · HS 25 · 27 · 28 · 31 · 72 · 73 · 76