Senator Ron Wyden (D-OR), ranking member of the Senate Committee on Finance released a statement marking his opposition to the nomination of Jamieson Greer for US Trade Representative prior to the committee approving his nomination by a 16-11 vote. Democratic lawmakers across Washington have been making stern statements as the new Administration sets to dismember the administrative state, though it should be noted the approval for Secretary of State Marco Rubio's nomination was unanimous.
Monday Feb 10, President Trump issued an executive order halting the initiation of new Foreign Corrupt Practices Act (FCPA) investigations and mandating a review of ongoing enforcement actions. The order comes in the wake of several high-profile corporate settlements under the statute, underscoring the administration’s concerns that current enforcement of the 47 year old Law is detrimental to U.S. economic competitiveness and national security.
According to the Proclamation on Adjusting Imports of Steel into the United States, issued by President Donald J. Trump on February 10, 2025, the administration has reinstated and expanded the 25% ad valorem tariff on imported steel and derivative steel products. The proclamation cites national security concerns under Section 232 of the Trade Expansion Act of 1962, as amended, and asserts that steel imports “are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.”
A Kyrgyz national and international arms dealer has been charged in a federal indictment with conspiracy and illegal smuggling of firearms from the United States to Russia. Sergei Zharnovnikov was arrested on January 24 in Las Vegas, while attending the Shooting, Hunting, and Outdoor Trade (SHOT) Show. Zharnovnikov is accused of orchestrating a complex scheme to circumvent U.S. export controls by funneling semi-automatic rifle-pistols through his Kyrgyz company to Russia. The indictment details his illegal procurement of firearms from a U.S.-based company in Chesapeake, Virginia, and subsequent exportation, in violation of U.S. export laws.
Jamieson Greer, President Trump’s nominee for U.S. Trade Representative, signaled a forceful approach to trade policy in his Senate Finance Committee confirmation hearing, emphasizing reciprocity, domestic production, and national security concerns. If confirmed, Greer is expected to reshape U.S. trade strategy with a strong emphasis on reducing trade deficits, enforcing trade agreements, and leveraging tariffs as a tool for economic and security objectives. Greer, who previously served as chief of staff at the Office of the U.S. Trade Representative (USTR) during the Trump administration, framed his approach as “pragmatic,” focused on securing better terms for U.S. producers while addressing economic vulnerabilities. “If the United States does not have a robust manufacturing base and innovation economy, it will have little in the way of hard power to deter conflict and protect Americans,” he told senators. He underscored the need to restructure the international trading system to prioritize U.S. interests, warning that the window for such reform is narrowing.
What are we to make of the chaos being promulgated by the Trump White House as it settles in to governing? Check back tomorrow; we'll have a new answer. From eliminating Valentine's Day roses, guacamole for the Super Bowl, the North American automotive industry, and America's compulsion for flimsy fast fashion, the Administration's "flood the zone" policy prescription has generated much heat and chatter, only to be walked back by weekend. Friday President Trump continued the drumbeat, promising more tariff announcements to come “I’ll be announcing that next week. Reciprocal trade so that we’re treated evenly with other countries. We don’t want any more or any less,”
Japan’s Nippon Steel and the US Steel Corporation are continuing the fight against the Biden Administration’s decision to block their proposed $14.9 billion merger. The two companies filed their opening brief with the US Court of Appeals for the District of Colombia Circuit arguing that President Biden halted the merger for political reason and not because of a national security threat. The two companies said in a statement that the merger “will enhance, not threaten, United States’ national security, protect US Steel workers, revitalize jobs in communities that rely on American steel and make American Steel bigger and better.
China has requested WTO dispute consultations with the United States in regard to new tariff measures applied by the United States on goods originating in China. The request was circulated to WTO members on 5 February. China claims that the 10 per cent additional ad valorem duties applied on all goods originating in China, as well as measures with respect to the availability of drawback and duty-free de minimis treatment, which apply to all products of Chinese origin, are inconsistent with US most-favoured-nation obligations under Article I:1 of the General Agreement on Tariffs and Trade (GATT) 1994 and US tariff obligations under Article II:1(a) of GATT 1994.
Senate Finance Committee Chairman Mike Crapo (R-Idaho) announced the final roster for the panel’s subcommittees yesterday, including the subcommittee on international trade, customs and global competitiveness.
Sens. Elizabeth Warren (D-Mass) and Josh Hawley (R-Mo) are calling on the Commerce Department to beef up export controls on China. In a letter to Commerce Secretary nominee Howard Lutnick, the two members of the Banking Committee said the Administration needs to strengthen export controls and close regulatory loopholes that are undercutting US technology leadership against challenges from China.
At a meeting of the World Trade Organization (WTO) agriculture negotiations, outgoing Chair Ambassador Alparslan Acarsoy of Türkiye delivered his final report, urging members to overcome longstanding divisions and achieve substantive progress ahead of the 14th Ministerial Conference (MC14) in Yaoundé in 2026. Reflecting on efforts over the past two years, Ambassador Acarsoy expressed regret that MC13 in 2024 had failed to deliver an outcome on agriculture, despite nearing consensus. “The position we find ourselves in is very similar to where we stood before MC13. I urge you to collectively consider what steps can be taken to break free from this recurring ‘Groundhog Day’ scenario and drive meaningful progress forward,” he stated.
Two Democratic Senators have introduced legislation aimed at limiting the president’s ability to impose tariffs unilaterally on U.S. allies and free trade agreement (FTA) partners. The Stopping Tariffs on Allies and Bolstering Legislative Exercise of (STABLE) Trade Policy Act seeks to reinstate congressional oversight over trade policy, requiring congressional approval before implementing new tariffs on allied nations.
China has responded to Washington’s imposition of a 10 percent tariff on all Chinese imports with a mix of retaliatory measures, including targeted tariffs, World Trade Organization (WTO) challenges, and diplomatic overtures. After President Trump announced a blanket tariff on China Tuesday, China's Finance Ministry declared 15 percent levies on US Coal and LNG and 10 percent on crude oil, farm equipment and some autos. Beijing also restricted exports of five critical minerals: tungsten, tellurium, bismuth, molybdenum, and indium.
The trade group representing 270 American companies operating in China, announced its policy priorities for US-China commercial relations. "With new US leadership, USCBC sees a fresh chance to address structural issues in China’s economy that disadvantage American businesses, workers, and farmers," states The US-China Business Council (USCBC) in announcing the report. The report calls for ensuring the enforcement of China’s “phase one” commitments, preserving China’s permanent normal trade relations status, and "recalibrating national security restrictions" Including reversing the AI Diffusion Rule introduced at the close of the prior administration.
A European Commission report assessing patterns of Member-State exports of dual-use items shows that both authorisations and denials for the export of those most sensitive goods is on the rise as compared to 2021. The report includes, for the first time, extensive information on licensing data that will allow for a better understanding of how export controls are applied, and the risks identified relating to exports of sensitive items in the current geopolitical context.
The Justice Department announced Thursday that Dominican Republic authorities seized a Dassault Falcon 2000EX aircraft used by Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, at the request of the U.S. government based on violations of U.S. export control and sanctions laws. The Justice Department previously announced in September 2024 the seizure of a Dassault Falcon 900EX aircraft in the Dominican Republic that was owned and operated for the benefit of Nicolás Maduro Moros and persons affiliated with him in Venezuela.
The Trump administration’s pledge of across-the-board tariffs have many U.S. companies concerned about higher-priced inputs and disrupted supply chains. This article explores the insurance coverage options, such as political risk insurance and trade credit insurance, that can offer coverage to protect against and mitigate trade-related risks. This article also provides advice on how policyholders can maximize coverage should a loss occur, and further discusses the impact that tariffs might have on the insurance market, including premiums for certain types of insurance lines.
A federal grand jury returned a superseding indictment February 4, charging a Chinese national with seven counts of economic espionage and seven counts of theft of trade secrets in connection with an alleged plan to steal from Google LLC proprietary information related to AI technology. Linwei Ding, also known as Leon Ding, 38 was initially indicted in March 2024 on four counts of theft of trade secrets. The superseding indictment describes seven categories of trade secrets stolen by Ding and charges Ding with seven counts of economic espionage and seven counts of theft of trade secrets.
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed a $37,000,000 civil money penalty against Brink’s Global Services USA, Inc. for willful violations of the Bank Secrecy Act (BSA). As a result of Brink’s failures, hundreds of millions of dollars in bulk currency shipments were transmitted across the Southwest Border on behalf of high-risk entities—including a Mexican currency exchanger that later pleaded guilty to violating the BSA. This is FinCEN’s first enforcement action against an armored car company.
Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on an international oil smuggling network that has facilitated the shipment of millions of barrels of Iranian crude oil, worth hundreds of millions of dollars, to the People’s Republic of China (PRC). This action aligns with the February 4 National Security Presidential Memorandum, which mandates maximum economic pressure on Iran to prevent its nuclear advancement and regional destabilization.