To increase disclosures of export violations, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a memorandum on April 18, 2023 “clarifying” its enforcement policy related to voluntary self-disclosures of “significant” possible violations of the Export Administration Regulations (EAR). The memo also elaborates upon the policy regarding disclosures of potential EAR violations by
OFAC Publishes Alert Warning of Possible Evasion of the Russian Oil Price Cap
On April 17, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) published an Alert warning U.S. persons about possible evasion of the price cap set on Russian-origin oil (see Update of December 5, 2022) and Russian-origin petroleum products (see Update of February 8, 2023) pursuant to Executive
OFAC and State Department Continue to Target Individuals and Entities Facilitating Russian Financial Transactions and Supporting Russia’s Defense Sector
On April 12, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced further efforts to deny Russia’s access to the international financial system through facilitators and their businesses. For example, OFAC has designated and sanctioned the “facilitation network” of Alisher Burhanovich Usmanov, who had previously been placed on OFAC’s Specially Designated
Treasury Issues Proposed Rule to Clarify the Advanced Manufacturing Investment Credit Established by the CHIPS Act
On March 23, 2023, the Department of the Treasury (“Treasury”) published a Notice of Proposed Rulemaking to implement the Advanced Manufacturing Investment Credit established by the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act (“CHIPS Act”). The CHIPS Act was enacted in August 2022 to incentivize the manufacture of semiconductors and semiconductor manufacturing
BIS Adds 32 Entities and Persons to Unverified List
On March 24, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Final Rule adding 32 persons and entities to its Unverified List (UVL). The UVL contains the names and addresses of foreign persons who are or have been parties to a transaction involving the export, reexport, or transfer (in-country) of
UPDATED: President Biden Issues Proclamations Increasing the Tariff Rates on Russian Aluminum to 200% and Significantly Increasing Rates on Other Russian Products
On the one-year anniversary of Russia’s invasion of Ukraine, President Joseph Biden on February 24, 2023, issued a Proclamation on Adjusting Imports of Aluminum Into the United States to implement: (1) effective March 10, 2023, a 200% import tariff on aluminum articles and derivative aluminum articles that are the products of Russia, and (2) effective
Treasury Publishes Final Guidance on the Russian Oil Price Cap
On February 3, 2023, the Department of the Treasury (Treasury) issued multiple determinations related to the price cap to be set on Russian-origin petroleum products. Treasury also published finalized guidance on the broader price cap policy implemented by the “Price Cap Coalition” – an international coalition that includes the United States, the G7, the European Union
GAO Audit: AD/CVD Process Ensures Petitions Are Not Meritless, Inaccurate, Incomplete or Filed to Obstruct Domestic Market Competition
- The GAO publicly released an audit to address concerns that domestic industries “may sometimes file [AD/CVD] petitions without merit to obstruct domestic market competition.”
- In its audit, the GAO analyzed the process administered by federal agencies to impose AD/CVD orders.
- The GAO concluded that the agency process for obtaining these orders, as well
U.S. Tin Mill Products Industry Files Petitions Seeking Trade Remedies For Imports From Eight Countries
In multiple petitions filed on January 18, 2023, Cleveland-Cliffs Inc. and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union (collectively, “the Petitioners”) requested the imposition of antidumping duties on U.S. imports of certain tin- and chromium-coated steel sheet products (“tin mill products”) from Canada, China, Germany, Netherlands
Panel Concludes Automakers May Continue Core Parts “Roll-up” to Meet USMCA’s RVC Passenger Vehicle and Light Truck Requirements
A United States-Mexico-Canada Agreement (USMCA) Chapter 31 Dispute Resolution Panel concluded that automakers may continue to use the longstanding practice of “roll-up” when calculating the percentage of North American-originating materials used in the production of core automotive parts (e.g., engines) that is subsequently factored into the computation for determining the total amount of originating content