New Commerce Rule Injects Uncertainty Into Foreign Transactions Involving Information and Communications Technology

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Snell & WilmerOn January 14, 2021, the U.S. Department of Commerce issued an interim final rule to address national security, economic security, and public health and safety concerns related to Information and Communications Technology and Services (“ICTS”) transactions with certain designated “foreign adversaries.” Pursuant to authority granted under Executive Order 138731 , this new rule 2 allows the Commerce Secretary broad discretion to block or mitigate ICTS transactions involving a foreign adversary if the Secretary deems that transaction an “unacceptable risk.”

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