The Office of the U.S. Trade Representative (USTR) released on March 29, 2024, its annual National Trade Estimate Report on Foreign Trade Barriers (NTE Report) that addresses the status of foreign trade and investment barriers to U.S. exports worldwide. This is the U.S. government’s major annual report on the barriers to U.S. exports of goods
USTR Requests Public Comments to Bolster Supply Chain Resilience
On March 7, 2024, the Office of the U.S. Trade Representative (USTR) published a Federal Register notice seeking public comments to help develop trade and investment policy initiatives aimed at making supply chains more resilient.
The USTR is interested in responses to one or more of the twelve questions outlined in the Federal Register notice.
USTR Releases President Biden’s 2024 Trade Policy Agenda and 2023 Annual Report
On March 1, 2024, the Office of the United States Trade Representative (USTR) published President Biden’s 2024 Trade Policy Agenda and 2023 Annual Report. This year’s agenda aims to further the cause of worker-centered trade policy, enhance the resilience of supply chains, and promote fair and sustainable trade practices. Below is a summary of
U.S. Announces New Sanctions to Promote Peace, Security, and Stability in the West Bank
On February 1, 2024, the United States introduced new sanctions to promote peace in the West Bank, targeting recent actions that jeopardize the region’s stability, including attacks by Israeli settlers against Palestinians and Palestinian attacks against Israelis. This follows the related visa restriction policy announced by the State Department on December 5, 2023.
The sanctions have
OFAC Again Extends Authorizations Under Russia General License 13
On January 18, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) again extended previous Russia-related General License (GL) 13 by issuing a revised GL 13H, “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
OFAC Issues Guidance for Provision of Humanitarian Aid to the Palestinian People
On November 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an important guidance document to ensure the provision of humanitarian aid to the Palestinian people in Gaza, while also maintaining strict controls to prevent funds from reaching Hamas. OFAC clarified that “U.S. sanctions do not stand in the
BIS Halts New Licenses for Firearm Exports
On October 27, 2023, the U.S. Department of Commerce announced an immediate pause on the issuance of new export licenses for certain firearms, related components and ammunition for a period of approximately 90 days. This pause applies globally to all non-governmental end users with some exceptions, notably for Ukraine, Israel and countries in Country Group
OFAC Loosens Venezuela Sanctions, Authorizes Transactions Involving Oil and Gas, State-Owned Gold Mining Company, and Certain Debt and Equity of Venezuela and PdVSA
- For a period of six months, OFAC permits a wide range of transactions tied to Venezuela’s oil and gas sector, including new investments and financial dealings with specific Venezuelan banks.
- OFAC allows all forms of transactions with Minerven, the Venezuelan state-owned gold mining company, nullifying prior sanctions solely in this sector.
- OFAC lifted
BIS Proposes Changes to the Section 232 Imported Steel and Aluminum Product Exclusion Process
On August 28, 2023, the Bureau of Industry and Security (BIS) published a proposed rule to revise the Section 232 steel and aluminum tariff exclusion process. The proposed rule responds to public comments received in response to BIS’s February 2022 Request for Public Comments. By proposing further revisions to the exclusion request process, BIS
Joint State, Labor and Commerce Department Business Advisory Issued on South Sudan
The U.S. Departments of State, Labor, and Commerce issued a business advisory on August 14, 2023, outlining key risks for U.S. companies operating in South Sudan. Concerns revolve around corruption, transparency, and human rights violations. Businesses are particularly cautioned against engaging with entities connected to South Sudanese government officials, especially in the oil and mining