Pursuant to the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), the Committee on Foreign Investment in the United States (CFIUS) established the concept of “excepted foreign state[s],” defined as those states with compliance laws, orders and regulations similar to those of the United States concerning foreign investments assessed for national security purposes. See
OFAC Issues General License Authorizing Earthquake Relief Efforts in Syria
On February 10, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 23 that authorizes until August 8, 2023 all transactions related to earthquake relief efforts in Syria that would otherwise be prohibited by the Syrian Sanctions Regulations under 31 C.F.R. Part 542. The GL makes clear
CIT Panel Hears Oral Arguments Concerning USTR’s Remand Explanation on China Section 301 List 3 and List 4A Tariffs
On February 7, 2023, the three-judge panel of the U.S. Court of International Trade (CIT) heard oral arguments on the USTR’s remand explanation and the plaintiff group’s reply comments. The hearing addressed the CIT’s earlier finding that the U.S. Trade Representative (USTR) failed to respond adequately to comments it received during the rulemaking process when
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 Report Notes Supply Chain Resilience with Trade Partners Requires Expanded Diplomatic Engagement
In February 2021 and pursuant to Executive Order 14017, “America’s Supply Chains,” President Joe Biden directed a review across all federal agencies to address vulnerabilities in the supply chains for critical goods. See Update of February 25, 2021. Subsequent federal agency reviews and a White House report found five key U.S. supply chain vulnerabilities
USTR Extends Section 301 Tariff Exclusions for Chinese COVID-19 Medical Products and Seeks Public Comment
On February 3, 2023, the Office of the U.S. Trade Representative (USTR) announced that it is extending for 75 days China Section 301 tariff exclusions for 81 medical products. The medical products were previously deemed as needed for the COVID-19 pandemic and granted exclusions from additional tariffs. The current exclusions were scheduled to expire on
CBP Removes Forced Labor Finding Pertaining to Palm Oil and Derivatives Produced by Malaysia’s Sime Darby Plantation
On February 3, 2023, U.S. Customs and Border Patrol (CBP) issued a determination in the Federal Register providing notice that it has determined that palm oil and various derivatives thereof “are no longer being mined, produced, or manufactured wholly or in part with the use of convict, forced, or indentured labor by the Sime Darby
U.S. Hosts Initial Ministerial of the Americas Partnership for Economic Prosperity
On January 27, 2023, U.S. Secretary of State Antony Blinken and U.S. Trade Representative Katherine Tai hosted the initial ministerial for the Americas Partnership for Economic Prosperity (APEP), a regional framework for cooperation to promote inclusive economic growth and strengthen competitiveness. The APEP consists of the United States, Barbados, Canada, Chile, Colombia, Costa Rica, the
BIS Includes Macau Under Semiconductor Export Controls Implemented Against China
On January 18, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) issued an Interim Final Rule extending export controls currently in place for China on advanced computing integrated circuits (ICs), computer commodities that contain such ICs, and certain semiconductor manufacturing items to the Macau Special Administrative Region of China (“Macau”). While China
Annual and Semi-Annual Encryption Reports Due to BIS by February 1, 2023
As a reminder to our readers, the annual encryption self-classification report and semi-annual sales report for certain encryption items are due to be filed by February 1, 2023.
Annual Self-Classification Report
The self-classification report covers less sensitive items covered under the Department of Commerce’s Bureau of Industry and Security (BIS) License Exception ENC (b)(1) (i.e.