On May 10, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an Interim Final Rule (IFR), effective August 8, 2024, that updates the Reporting, Procedures, and Penalties Regulations....more
6/14/2024
/ Antiboycott Requirements ,
Biden Administration ,
Blocked Entities ,
China ,
Customs and Border Protection ,
Department of Justice (DOJ) ,
Export Administration Regulations (EAR) ,
Exports ,
Interim Final Rules (IFR) ,
Israel ,
Office of Foreign Assets Control (OFAC) ,
Reporting Requirements ,
Russia ,
Section 301 ,
Self-Disclosure Requirements ,
Senate Finance Committee ,
Tariffs ,
Turkey ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine ,
USTR ,
Uyghur Forced Labor Prevention Act (UFLPA)
Ford Motor Company Agrees to $365M Settlement for Attempted Tariff Engineering Ford has agreed to settle the long-standing dispute over the tariff classification of vans imported from 2009 to 2013. At the time, Customs and...more
4/8/2024
/ Antiboycott Requirements ,
Bribery ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Connected Cars ,
Court of International Trade ,
Customs and Border Protection ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
Forced Labor ,
Ford Motor ,
Foreign Corrupt Practices Act (FCPA) ,
Information and Communication Technology (ICT) ,
Office of Foreign Assets Control (OFAC) ,
Personal Data ,
SDN List ,
Section 301 ,
Tariffs ,
U.S. Treasury ,
Unfair or Deceptive Trade Practices ,
USDA ,
USTR ,
Uyghur Forced Labor Prevention Act (UFLPA)
On December 11, the Department of Justice, the Department of Commerce’s Bureau of Industry and Security (BIS), the Department of Homeland Security, the Department of State’s Directorate of Defense Trade Controls (DDTC), and...more
1/12/2024
/ Bad Actors ,
Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Homeland Security (DHS) ,
Department of Justice (DOJ) ,
Directorate of Defense Trade Controls (DDTC) ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Subsidiaries ,
Iran Sanctions ,
Nasdaq ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Supply Chain ,
Tariffs ,
U.S. Commerce Department ,
Virtual Currency
On Aug. 9, President Joe Biden signed an Executive Order providing the framework for investment restrictions in China (including Hong Kong and Macau). The President has tapped the Department of the Treasury to oversee a...more
8/11/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
China ,
Coronavirus/COVID-19 ,
Executive Orders ,
Foreign Investment ,
Intelligence Services ,
Joe Biden ,
Microchip Technology ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
PRC ,
Screening Procedures ,
Section 301 ,
Semiconductors ,
Tariffs ,
Technology Sector ,
USTR
Crypto Asset Company Settles Sanctions Violations for $7.5 million-
On May 1, the U.S. Department of Foreign Assets Control (OFAC) announced a $7.5 million settlement with crypto asset company Poloniex LLC for 65,942 apparent...more
6/14/2023
/ Books & Records ,
CFIUS ,
China ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Directorate of Defense Trade Controls (DDTC) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Workers ,
Form I-9 ,
Human Resources Professionals ,
International Emergency Economic Powers Act (IEEPA) ,
Know Your Customers ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
USTR
In response to entreaties by allies at the Group of Seven (G7) summit recently held in Japan, on May 19, 2023, the U.S. Department of Commerce and the Department of the Treasury jointly announced new restrictions on trade...more
5/30/2023
/ Bureau of Industry and Security (BIS) ,
Construction Industry ,
Economic Sanctions ,
Entity List ,
Export Controls ,
Exports ,
Foreign Policy ,
Foreign Relations ,
Manufacturers ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Tariffs ,
Trading Policies ,
Transportation Industry
In late December 2021, President Joe Biden signed the Uyghur Forced Labor Prevention Act (UFLPA). The new law creates a rebuttable presumption that any goods created in whole or in part in the Xinjiang Uyghur Autonomous...more
5/11/2022
/ Belarus ,
Bitcoin Mining ,
China ,
Cryptocurrency ,
Customs and Border Protection ,
Cyber Attacks ,
False Statements ,
FBI ,
Federal Trade Commission (FTC) ,
Forced Labor ,
Joe Biden ,
Made in the USA ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Section 301 ,
Tariffs ,
Trade Relations ,
U.S. Treasury ,
Uyghur Forced Labor Prevention Act (UFLPA)
1. Updates to Russia Sanctions and Export Controls-
In response to the ongoing attack on Ukraine, the U.S. government continues on a weekly basis to increase economic sanctions and export controls on Russia.
...more
4/11/2022
/ Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Court of International Trade ,
Cryptocurrency ,
Economic Sanctions ,
Environmental Social & Governance (ESG) ,
Export Administration Regulations (EAR) ,
Export Controls ,
FCC ,
International Trade ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
Supply Chain ,
Tariffs ,
U.S. Treasury
Premise: Nearly all companies have exposure to international trade laws when doing business. Spotting these risks early when negotiating agreements and transactions will prevent future liability and costs. So, when drafting...more
11/30/2021
/ Buy American Act ,
CFIUS ,
Environmental Social & Governance (ESG) ,
Exports ,
Foreign Investment ,
Imports ,
International Trade ,
Liability ,
Sanctions ,
Supply Chain ,
Tariffs
As global trade policy affects supply chains and importing and exporting, companies often have interests on both sides of global trade issues. They want lower costs and efficient labor sources and want to sell their goods and...more
11/2/2021
/ Audits ,
Buy American Act ,
China ,
Exports ,
Federal Trade Commission (FTC) ,
Global Market ,
Imports ,
Joe Biden ,
Sanctions ,
Section 301 ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trump Administration ,
U.S. Commerce Department ,
U.S. Treasury ,
US Trade Policies
Export control requirements, economic sanctions, foreign ownership rules, import restrictions — cross-border trade continues to get more complex.
Do you know there are trade laws that restrict who you can do business...more
10/22/2021
/ Blocked Entities ,
CFIUS ,
Compliance ,
Cross-Border ,
Customs and Border Protection ,
Duties ,
Economic Sanctions ,
Embargo ,
Export Controls ,
Foreign Entities ,
Foreign Investment ,
Foreign Ownership ,
Foreign Workers ,
Imports ,
National Security ,
Startups ,
Tariffs ,
Technology Sector ,
Trademark Infringement
On October 5, 2021, the Office of the United States Trade Representative (USTR) announced that it will be conducting a new but narrow exclusion renewal request process to decide whether it will extend up to 549 Section 301...more
1. BIS Eliminates Reporting Requirements for Certain Encryption Items Effective March 29, 2021, BIS eliminated or reduced reporting requirements for certain encryption items.
For encryption source code and beta test...more
5/27/2021
/ Bureau of Industry and Security (BIS) ,
China ,
Encryption ,
Executive Orders ,
Financial Institutions ,
Foreign Direct Investment ,
Huawei ,
Joe Biden ,
Pharmaceutical Industry ,
Proposed Legislation ,
Reporting Requirements ,
Russia ,
Sanctions ,
Section 301 ,
Software ,
Supply Chain ,
Surveillance ,
Tariffs ,
Technology Sector ,
USTR ,
ZTE
On March 31, 2021, the Office of the U.S. Trade Representative (USTR) published a notice seeking comments regarding proposed duties on imported goods from Austria, India, Italy, Spain, Turkey, and the United Kingdom (UK). The...more
Welcome to the inaugural edition of Lowenstein Sandler’s Trade Matters. Each month, we will cover important developments related to international trade law and compliance. We look forward to a continuing dialogue with our...more
3/1/2021
/ Bureau of Industry and Security (BIS) ,
China ,
Court of International Trade ,
Entity List ,
EU ,
Executive Orders ,
Extraterritoriality Rules ,
Forced Labor ,
Imports ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Sanctions ,
Supply Chain ,
Tariffs ,
UK
The litigation filed last fall challenging the legitimacy of the United States Trade Representative’s (USTR) decision to issue the List 3 and List 4 China 301 tariffs is moving forward, but companies paying these duties may...more
Trade compliance programs save manufacturers of goods with overseas supply chains thousands of dollars in duties, fines, and penalties.
According to a 2019 federal study, President Donald Trump’s tariffs and subsequent...more
10/23/2020
/ Audits ,
Commerce Control List ,
Compliance ,
ECCNs ,
Fines ,
Office of Foreign Assets Control (OFAC) ,
Risk Mitigation ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trump Administration ,
US Trade Policies
The Office of the United States Trade Representative (USTR) is now accepting comments regarding the possible extension of List 3 product exclusions that are set to expire on August 7. Companies are invited to submit comments...more
5/5/2020
/ China ,
Comment Period ,
Exclusions ,
Imports ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
USTR