On May 22, the Office of the US Trade Representative (USTR) issued a Federal Register notice that provides additional information on the new or increased tariffs on select Chinese-origin products that USTR previously...more
5/23/2024
/ Batteries ,
China ,
Electric Vehicles ,
Federal Register ,
Imports ,
Lithium Batteries ,
Plastic Solar Cells ,
Section 301 ,
Semiconductors ,
Tariffs ,
Trade Act of 1974 ,
US Trade Policies ,
USTR
On May 14, the Office of the US Trade Representative (USTR) announced that it is proposing to add or increase tariffs on select Chinese-origin products in “strategic sectors,” pursuant to Section 301 of the Trade Act of 1974....more
On October 16, 2023, the Committee on International Trade (INTA) and the Committee on Internal Market and Consumer Protection (IMCO) of the European Parliament adopted their position (the Committee Position; see here and...more
The Biden Administration has issued its long-awaited Executive Order on Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern (“EO”), which will create a new...more
8/11/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
China ,
Cybersecurity ,
Executive Orders ,
Foreign Investment ,
NAICS ,
National Security ,
Outbound Transactions ,
Popular ,
Proposed Regulation ,
Supply Chain ,
Technology Sector ,
U.S. Treasury
The EU’s Foreign Subsidies Regulation (FSR) was adopted in late 2022. Its stated aim is to combat the effects of competitive distortions caused by foreign subsidies in the EU internal market and thereby level the playing...more
8/9/2023
/ Competition ,
EU ,
European Commission ,
European Merger Control Regulation ,
Foreign Subsidies ,
Member State ,
Merger Controls ,
Mergers ,
New Regulations ,
Public Procurement Policies ,
State Aid ,
State-Owned Enterprises ,
Threshold Requirements
On May 16, the Regulation establishing an EU Carbon Adjustment Mechanism (CBAM) was published in the Official Journal of the EU and entered into force the following day. Under the CBAM, importers into the EU of...more
On February 6, 2023, the European Commission (EC) published a draft Implementing Regulation (the Implementing Regulation) setting out rules and procedures for the application of the Foreign Subsidies Regulation (FSR)....more
Following a series of public reports, the United States appears close to announcing a new regulatory process to scrutinize US “outbound” investment to countries presenting national security challenges. ...more
2/22/2023
/ Acquisitions ,
CFIUS ,
Compliance ,
Covered Transactions ,
Cross-Border Transactions ,
Foreign Investment ,
Mergers ,
NAICS ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Outbound Transactions ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements
Effective February 5, 2023, the Price Cap Coalition (the Coalition), consisting of the G7 nations, the European Union (EU) and Australia, set a price cap of $45 per barrel for “Discount to Crude” petroleum products of Russian...more
2/10/2023
/ Australia ,
Biden Administration ,
Crude Oil ,
Economic Sanctions ,
EU ,
Exports ,
G7 ,
General Licenses ,
New Guidance ,
Oil & Gas ,
Oil Prices ,
Russia ,
Ukraine
On November 28, 2022, the Council of the European Union (Council) gave its final approval to the proposed Regulation on Foreign Subsidies (Regulation), concluding seven months of negotiations with the EU Parliament. Under...more
A ban on services related to the maritime transport of Russian-origin crude oil sold above a pre-determined price cap of $60 per barrel began on December 5, 2022, with a similar price cap ban related to other Russian-origin...more
12/7/2022
/ Australia ,
Commodities ,
Economic Sanctions ,
EU ,
Exports ,
G7 ,
Global Market ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Russia ,
Ukraine
On October 17, the Office of the US Trade Representative (USTR) published a notice requesting public comments on Section 301 tariffs on products from China. This request is part of USTR’s statutory four-year review of the...more
After months of closed-door negotiations, the Public Company Accounting Oversight Board (PCAOB) announced on Friday that it has entered into a Statement of Protocol with the China Securities Regulatory Commission (CSRC) and...more
On June 21, 2022, the Uyghur Forced Labor Prevention Act (UFLPA) came into force after being signed into law on December 23, 2021, by President Biden. The legislation reflects the US government’s commitment to combating...more
7/7/2022
/ Biden Administration ,
China ,
Customs and Border Protection ,
Effective Date ,
Forced Labor ,
Human Rights ,
Importers ,
Imports ,
Rebuttable Presumptions ,
Supply Chain ,
Trade Restrictions ,
US Trade Policies ,
Uyghur Forced Labor Prevention Act (UFLPA)
On May 5, the Office of the US Trade Representative (USTR) published a Federal Register notice initiating a statutorily-mandated “four-year review” of the Section 301 tariffs that USTR has imposed on a wide range of...more
We wanted to share an update on Russia sanctions developments in the United States, United Kingdom, and European Union that occurred between March 24 and April 8, 2022. Following new reports of atrocities committed by the...more
On March 25, 2022, US President Joe Biden and European Commission President Ursula von der Leyen made the long-awaited announcement that the United States and the European Union have agreed, in principle, to the...more
We wanted to share an update on Russia sanctions developments in the United Kingdom, European Union, and the United States that occurred between March 16 and 24. As summarized below, key global jurisdictions have continued to...more
Top EU Court Rules on the EU Blocking Regulation Against US Sanctions for the First Time -
On December 21, 2021, the Court of Justice of the European Union (CJEU), sitting as a “Grand Chamber” (a formation used, among...more
Yesterday, the US Department of Homeland Security, on behalf of the interagency Forced Labor Enforcement Task Force (Task Force), published a Notice in the Federal Register that seeks public comment on the implementation of...more
End-of-Year Sanctions Target Chinese Supply Chains and AI, Quantum Computing, and Biotechnology -
Several US executive branch agencies and the US Congress have adopted wide-ranging end-of-year sanctions, export control and...more
12/29/2021
/ Artificial Intelligence ,
Biden Administration ,
Biotechnology ,
Bureau of Industry and Security (BIS) ,
China ,
Economic Sanctions ,
Entity List ,
Executive Orders ,
Export Controls ,
Foreign Issuers ,
Human Rights ,
International Relations ,
Military End Use ,
National Security ,
NDAA ,
New Legislation ,
Office of Foreign Assets Control (OFAC) ,
PCAOB ,
Popular ,
Publicly-Traded Companies ,
Supply Chain ,
Technology Sector ,
U.S. Commerce Department
On November 19, the Office of the US Trade Representative (USTR) announced that it would terminate the actions it had taken under Section 301 of the Trade Act of 1974 with respect to digital services taxes (DSTs) adopted by...more
11/24/2021
/ Digital Media ,
Digital Service Providers ,
Digital Services ,
Digital Services Tax ,
Imports ,
OECD ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trade Relations ,
US Trade Policies ,
USTR
Yesterday the US Department of Commerce (Commerce) published the most comprehensive revisions to its regulations for enforcing trade remedy laws since the 1990s - the completion of a rulemaking process that started under the...more
On July 23, the Office of the U.S. Trade Representative (“USTR”) announced the conclusion of its investigation under Section 301 of the Trade Act of 1974 (“the Trade Act”) into Vietnam’s practices related to currency...more
7/27/2021
/ Currency Exchange ,
Currency Manipulation ,
Exchange Rates ,
IMF ,
Janet Yellen ,
Joint Statements ,
Section 301 ,
Trade Act of 1974 ,
U.S. Treasury ,
United States-Mexico-Canada Agreement (USMCA) ,
USTR ,
Vietnam
On June 10, the Standing Committee of National People’s Congress of China enacted the Anti-Sanctions Law (ASL) on an accelerated basis after only two rather than the normal three readings and without an opportunity for public...more