July 2021

The Committee on Foreign Investment in the United States (CFIUS or the “Committee”), an inter-agency committee headed by the Department of the Treasury, has released its 2020 Annual Report to Congress (Report). CFIUS is authorized to review transactions that could result in the control of U.S. businesses by foreign persons or companies, as well as…

Key Notes:

  • On July 13, the U.S. government released an updated version of the Xinjiang Supply Chain Business Advisory advising U.S. companies of the widespread, PRC-government sponsored forced labor and intrusive surveillance practices targeting ethnic and religious minorities in Xinjiang.
  • The Advisory urges U.S. companies with supply chains, ventures or investments connected to Xinjiang to

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On July 23, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement agreement with Payoneer Inc. (“Payoneer”), a publicly traded New York-based online money transmitter and provider of prepaid access.  Payoneer agreed to pay a civil penalty of approximately $1.4 million to settle its potential liability for 2,260 apparent…

On July 20, 2021,  the U.S. Court of International Trade (CIT) issued an order revising certain deadlines established in its July 6 decision and order granting the plaintiff group’s motion for a preliminary injunction in the ongoing Section 301 tariff refund litigation involving imports of certain Chinese products. The preliminary injunction suspended liquidation of unliquidated…

On July 20, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it has issued General License (GL) 5G, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After October 21, 2021,” which continues to delay U.S. persons’ ability to enforce…

On July 14, 2021, the Federal Trade Commission (FTC) published in the Federal Register (86 Fed. Reg. 37022-35) its final rule for “Made in USA” and other “unqualified U.S.-origin claims” on product labels. The final rule is effective on August 13, 2021.

The final rule codifies a longstanding FTC policy and practice that a product…

On July 16, 2021, the U.S. Departments of State, Commerce, Homeland Security and the Treasury issued a Hong Kong Business Advisory highlighting growing risks for U.S. companies operating in the Hong Kong Special Administrative Region (SAR) due to ongoing actions taken by the Government of the People’s Republic of China (China). The advisory states that…

On July 19, 2021, the Department of Commerce’s Bureau of Industry and Security (BIS) published a final rule adding six Russian entities to the Entity List after having been determined to be “acting contrary to the foreign policy interests of the United States.” The entities are:

  • Aktsionernoe Obshchestvo AST;
  • Aktsionernoe Obshchestvo Pasit;
  • Aktsionernoe Obshchestvo Pozitiv

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On July 12, 2021, the Department of Commerce’s Bureau of Industry and Security (BIS) published a final rule adding thirty-four (34) entities to the Entity List for the following destinations:  Canada; People’s Republic of China (China); Iran; Lebanon; Netherlands; Pakistan; Russia; Singapore; South Korea; Taiwan; Turkey; the United Arab Emirates (UAE); and the United Kingdom. …