OFAC continues its efforts to target Russian elites and firms that benefit from their ties to Russia’s defense sector, military-industrial complex, and affiliation with the Kremlin. September 13 OFAC imposed nearly 100 sanctions on Russian elites and Russia’s industrial base, financial institutions, and technology suppliers, along with designations of more than 70 persons. Industries affected range from Railroad Equipment and heavy machinery to digital optical systems, diamonds traders, and the Wagner Group's advisor to the president of the Central African Republic. …
Sen. Richard Blumenthal (D-CT), Chair of the Senate Permanent Subcommittee on Investigations (PSI), issued a subpoena to the Saudi Arabian Public Investment Fund’s (PIF) wholly-owned U.S. subsidiary, USSA International LLC, for documents related to PIF’s takeover of American golf and other investments throughout the United States. “The Saudi’s Public Investment Fund cannot have it both ways: if it wants to engage with the United States commercially, it must be subject to United States law and oversight,” Blumenthal said. “That oversight includes this Subcommittee’s inquiry.”
Customs and Border Protection announced today the completion of its first interoperability test. The test seeks to establish global standards to foster transparency and a standard manner of communication between the private sector and government agencies while allowing both to maintain the ability to choose from various technologies.
The Biden Administration announced the “Comprehensive Security Integration and Prosperity Agreement” (C-SIPA) with Bahrain. This pact aims to strengthen various domains including defense, security, trade, and technology. 1.Strengthen defense and security cooperation, focusing on mutual intelligence capacity-building and integrating regional air and missile defense systems. 2. Enhance trade and investment ties, building on the existing US-Bahrain Free Trade Agreement. 3. Encourage infrastructure investments and supply chain resilience. 4. Develop and deploy trusted technologies in the digital and ICT sectors, marking a critical step in today's global security landscape.
Congress, through various means, has shown sustained interest in the export policy, emphasizing the balance between maintaining U.S. technological leadership and preventing adversaries from accessing advanced technologies. Christopher Casey of the Congressional Research Service penned a report released September 8 that frames this topic for policymakers and practicioners alike.
Gerry Horner, Chief of the Trade Regulations Branch at the US Census Bureau, gave the committee an update on two Notices of Proposed Rulemaking: the Routed Export Transaction rule, published prior to 2019, and the Country of Origin data element, released in December 2021.
The Commerce Department’s Bureau of Industry and Security Regulations and Procedures Technical Advisory Committee met September 12th, with little news, but steady progress on the rulemaking front.
President Biden and General Secretary Nguyen Phu Trong of the Communist Party of Vietnam met in early September and initiatied a "Comprehensive Strategic Partnership," a status Vietnam reserves for its closest partners, emphasizing peace, cooperation, and sustainable development. The Socialist Republic of Vietnam remains categorized as a "non-market economy," and is treated less favorably under US anti-dumping law. Removal of this designation is a priority ask from Hanoi, although it hasn't materially slowed growth in exports to the US.
One of the two Florida men arrested this Spring in a scheme to launder funds for the fugitive "Gas King of Ukraine," through a Florida metals service center has entered a guilty plea. Sergey Karpushkin, a Belarusian citizen from Miami, was indicted and arrested for engaging in a $150 million scheme to violate U.S. sanctions against Russian oligarch Sergey Kurchenko and his two companies. Karpushkins plea acknowledged violation of the International Emergency Economic Powers Act ("IEEPA"), 50 U.S.C. § 1705; and other money laundering charges.
[from the EU release] We, the Leaders of the G20, met in New Delhi on 9-10 September 2023, under the theme ‘Vasudhaiva Kutumbakam’. We are One Earth, One Family, and we share One Future. We, the Leaders of the G20, met in New Delhi on 9-10 September 2023, under the theme …
These Quick Reference Cards describe 1). The best practices associated when reporting allegations of Enforce and Protect Act (EAPA) violations to U.S. Customs and Border Protection regarding importer Anti-dumping/Countervailing Duty (AD/CVD) evasion. and 2). The Enforce and Protect Act (EAPA) investigation timeline when an allegation reasonably suggests that there is evidence of Anti-dumping/Countervailing Duty (AD/CVD) evasion
The United States and India announced Friday they have agreed to settle their last outstanding dispute at the World Trade Organization, dealing with India’s ban on US poultry due to concerns about Avian Influenza. The announcement follows a meeting between President Biden and Indian Prime Minister Modi in New Delhi.
World Trade Organization Director-General Ngozi Okonjo-Iweala is developing a framework for carbon-pricing in order to further bolster the ongoing carbon border adjustment measures that are likely to be imposed by the European Union early next year while the United States appears to be developing a framework for imposing carbon duties, our correspondent has learned. Several members are expressing concern that instead of focusing on the core mandated and unresolved issues from the previous ministerial meetings, including the Doha Development Agenda, the DG appears to be frittering away the limited resources of the Secretariat on developing the carbon-pricing framework, an issue that has not been formally mandated by members or by trade ministers at any previous meeting, said several Secretariat insiders who asked not to be identified.
The US Export-Import Bank Board of Directors has approved the first-ever direct loan to support domestic manufacturing. The $4.7 million to Aquatech, a small, minority-owned business based in Canonsburg, Pennsylvania, is the first transaction authorized under ExIm’s Make More in America Initiative.
President Biden has tapped Erik Woodhouse as his nominee to head the State Department’s Office of Sanctions Coordination. Mr. Woodhouse currently serves as the Deputy Assistant Secretary of State for Counter Threat Finance and Sanctions in the Bureau of Economic and Business Affairs.
The Senate returned last weekj from the August Congressional break with a packed agenda that will leave little time for action on pending trade legislation like countering China’s unfair trade practices or renewal of the expired Generalized System of Preferences program. Both Senate Majority Leader Chuck Schumer (D-NY) and House Speaker Kevin McCarthy (R- Calif) started the year with hopes of putting together a major China trade bill.
New Zealand is the latest country to deposited its instrument of acceptance of the World Trade Organization Agreement on Fisheries Subsidies, making it the first country from the Oceania region to join. With New Zealand’s acceptance, the WTO has received nearly 40 percent of the acceptances needed for the Fisheries Agreement to enter into force. Two-thirds of WTO members must accept the Agreement before it can come into effect.
World Trade Organization Doha fisheries subsidies negotiations Chair Ambassador Einar Gunnarsson of Iceland has issued a draft text on the “disciplines on subsidies contributing to overcapacity and overfishing” pillar for upcoming negotiations in the fall, WTD has learned. The five-page restricted room document (RD/TN/RL/174) issued on Monday and seen by our correspondent, appears to contain asymmetries in the provision of carveouts to big subsidizers who contributed to the problem of global depletion of fish stocks on the one side, and special and differential treatment for developing and least developed countries on the other, said people familiar with the text.
U.S.-EU talks on a 'green steel' trade deal are stalling, with a critical October 31 deadline approaching, Reuters reports. Central to the dispute are differing strategies to address carbon emissions and excess production, largely targeting China's steel industry dominance. Bloomberg reports The US and European Union continue work on an agreement that would introduce new tariffs aimed at excess steel production from China and other countries, as well as put behind them a Trump-era trade conflict.
House Ways and Means Committee Republicans are making sure European officials understand their opposition to an international tax agreement negotiated through the Organization for Economic Cooperation and Development. At meetings in Paris and Berlin, the Republicans said they will not support the Pillar One and Pillar Two tax agreements.
