On February 3, 2026, the Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a final rule removing Cambodia from the list of U.S. arms-embargoed countries—Country Group D:5—within the Export Administration Regulations (“EAR”).  This actions follows the White House’s October 2025 decision to lift the U.S. arms embargo on Cambodia, and aligns with the…

On January 29, 2026, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 46, “Authorizing Certain Activities Involving Venezuelan-Origin Oil.”  The general license authorizes all transactions prohibited by the Venezuela Sanctions Regulations, 31 C.F.R part 591, including those involving the Government of Venezuela, Petróleos de Venezuela, S.A. (PdVSA)…

On January 29, 2026, President Donald Trump issued Executive Order 14380 to impose an additional ad valorem duty on goods from countries that directly or indirectly sell or otherwise provide oil—that is, crude oil or petroleum products—to Cuba.  Although the executive order, which took effect on January 30, 2026, appears broad in scope, it clarifies…

On February 2, 2026, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 5U, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After March 20, 2026,” which continues to delay U.S. persons’ ability to enforce bondholder rights to the CITGO…

On January 29, 2026, the Office of the U.S. Trade Representative (USTR) announced that the United States and El Salvador have signed the U.S.-El Salvador Agreement on Reciprocal Trade (Agreement).  According to Ambassador Jamieson Greer, the USTR:  “Today’s signing of the first Agreement on Reciprocal Trade in the Western Hemisphere will further strengthen markets for…

On January 30, 2026, the Office of the U.S. Trade Representative (USTR) announced that the United States and Guatemala have signed the United States–Guatemala Agreement on Reciprocal Trade (Agreement).  According to Ambassador Jamieson Greer, the USTR:  “Today’s signing of another Agreement on Reciprocal Trade in the Western Hemisphere addresses trade barriers facing American workers and…

On January 14, 2026, President Donald Trump issued Proclamation 11002, announcing that, effective January 15, 2026, the United States is levying a 25% tariff on “a very narrow category of semiconductors” critical to the artificial intelligence (AI) sector, unless those semiconductors are imported “to support the buildout of the United States supply chain.” The…

On January 14, 2026, President Donald Trump issued Proclamation 11001, concluding that processed critical minerals and their derivative products (PCMDPs) would not be subject now to an additional tariff under Section 232 of the Trade Expansion Act of 1962. Section 232 authorizes the president to adjust duties on goods imported in quantities or under…

On January 15, 2026, the United States and Taiwan agreed to a trade deal to establish “a strategic economic partnership … to decisively strengthen U.S. domestic semiconductor supply chains and secure America’s technological and industrial leadership.” While the text and full terms of the trade deal were not released, the Department of Commerce released a…

On January 6, 2026, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) again extended Russia-related General License (GL) 13 by issuing a revised GL 13P, “Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024,” which states that U.S. persons are authorized to pay taxes, fees, or import duties…