The Biden administration announced that it will increase tariffs in key product areas, largely focusing on electric vehicles, batteries, solar cells, and supporting industries. This increase in tariffs results from the U.S....more
The Treasury finalized regulations for the Clean Vehicle Credit under I.R.C. Section 30D. These regulations are effective July 5, 2024. The Section 30D credit, up to $7,500, applies to new electric or fuel cell vehicles...more
The Office of Management and Budget (OMB) recently released guidance for the Build America, Buy America Act (BABA), which was enacted in November 2021 as part of the Infrastructure Investment and Jobs Act (IIJA)....more
On May 12, the Department of Treasury and the Internal Revenue Service (IRS) issued guidance (Notice 2023-38PDF) providing clarity on how taxpayers installing wind, solar, energy storage, and other clean energy projects can...more
The United States Treasury Department (Treasury) and the Internal Revenue Service (IRS) released proposed guidance related to the 30D credit which extends as much as $7,500 in consumer tax breaks for cars that meet criteria...more
The United States Trade Representative (USTR) is likely to reinstate Section 301 tariffs on 81 COVID pandemic-related products. The 81 health care products that will be affected include, but are not limited to, these items: ...more
On September 15, 2022, President Biden signed an Executive Order (EO) adding five additional factors for The Committee on Foreign Investment in the United States (CFIUS) to consider when reviewing transactions. The identified...more
As previously discussed in this December Alert, the Uyghur Forced Labor Prevention Act (UFLPA) is effective as of June 21. Customs and Border Protection (Customs) now presumes that all goods produced in Xinjiang, China are...more
In our February 25 alert, we discussed the U.S. implementation of significant sanctions and export controls on Russia which will severely impact business transactions with Russian entities. In our March 4 alert, we discussed...more
3/17/2022
/ Belarus Sanctions ,
Biden Administration ,
Blocked Person ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Transactions ,
Foreign Policy ,
Foreign Trade Regulations ,
G7 ,
General Licenses ,
Military Conflict ,
Most-Favored Nations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Tariffs ,
Ukraine
In our previous alert, we discussed the U.S. implementation of significant sanctions and export controls on Russia which will severely impact business transactions with Russian entities. The U.S. and its allies continue to...more
3/7/2022
/ Asset Seizure ,
Belarus ,
Belarus Sanctions ,
Biden Administration ,
Blocked Entities ,
Blocked Person ,
Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Financial Institutions ,
Foreign Policy ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
Ukraine
In response to Russia's invasion of Ukraine, the Biden Administration has implemented significant sanctions on Russia's financial institutions, state-owned companies, and individuals close to Putin which will restrict U.S....more
2/28/2022
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Policy ,
General Licenses ,
Military End Use ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
U.S. Commerce Department
President Joe Biden signed the Uyghur Forced Labor Prevention Act (H.R. 6256) into law on December 23, 2021. The act seeks to ensure that goods produced using forced labor do not enter the United States. U.S. Customs and...more
The Department of Commerce (Commerce) has initiated an investigation under Section 232 of the Trade Expansion Act of 1962 on neodymium-iron-boron permanent magnets (neodymium magnets) to determine the effect of imports on the...more
The Biden Administration announced the re-opening of the tariff exclusion process for Section 301 tariffs on goods from China, pursuant to its new approach to the U.S.-China Trade Relationship. President Biden's Targeted...more