On September 14, 2022, the plaintiff group in the ongoing China Section 301 tariff refund litigation before the Court of International Trade (CIT) filed its comments in response to the USTR’s remand explanation. The comments highlight that the CIT offered the USTR a final opportunity to explain its rationale and reasoning as to why it
OFAC Extends Authorizations Under Russia General License 13 for Payment of Various Fees
On September 8, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a revised Russia-related General License (GL) 13B, “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 and purchase or receive permits,
Price Cap to Be Placed on Russian Oil in Response to Continued Aggression in Ukraine
In the latest effort to address Russia’s invasion of Ukraine, on September 2, 2022, the G7 Finance Ministers issued a statement confirming their intention to finalize and implement a price cap with respect to Russian-origin oil. As described, the plan would implement a comprehensive prohibition of services which enable maritime transportation of Russian-origin crude oil
USTR to Continue Section 301 Tariffs on China During Four-Year Review Process
On September 2, 2022, the Office of the United States Trade Representative (USTR) confirmed, as part of its statutory four-year review process under the Trade Act of 1974, that (1) domestic industry representatives benefiting from the tariff actions in the Section 301 investigation of China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property,
BIS Issues FAQs to Address Evasion and Diversion Concerns
On August 16, 2022, the Department of Commerce’s Bureau of Industry and Security (BIS) issued several new Frequently Asked Questions (FAQ) addressing potential red flags for diversion concerns.
Regarding semiconductor foundries, one FAQ asks if there any special red flags that should be considered with regard to parties (e.g., integrated circuit designers) on the Entity
Treasury Releases Annual CFIUS Report
On August 2, 2022, the Treasury Department, as the lead agency of the Committee on Foreign Investment in the United States (CFIUS), released a public version of its annual report to Congress regarding foreign direct investment in the United States. Assistant Secretary for Investment Security Paul Rosen stated, “This year’s Annual Report demonstrates that CFIUS
OFAC Designates Additional Russian Persons and Entities for Sanctions and Issues Russia-Related General Licenses
On August 2, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) added further Russian individuals, entities and vessels to its Specially Designated Nationals (SDN) List. The designations include numerous Russian individuals connected to Russia President Vladimir Putin, as well as multinational companies Investitsionnaya Kompaniya MMK-FINANS (an investment and financial copany) and
USTR Files Remand Results Explanation in China Section 301 Tariff Refund Litigation
On August 1, 2022, and as directed by the U.S. Court of International Trade (CIT) in its April 2022 decision (see Update of April 6, 2022), the Office of the U.S. Trade Representative (USTR) filed a 90-page explanation in support of its rationale for imposing List 3 and List 4A tariff determinations to
OFAC Authorizes Provision of Tax Preparation Services to U.S. Individuals Located in Russia
On July 14, 2022, the Department of Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 44 authorizing transactions ordinarily incident and necessary to the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of tax preparation or filing services to any
OFAC Authorizes Transactions Involving SEFE Securing Energy for Europe GmbH (formerly Gazprom Germania GmbH)
On July 14, 2022, the Department of Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 30A authorizing transactions through December 16, 2022 involving SEFE Securing Energy for Europe GmbH (formerly known as Gazprom Germania GmbH) or any entity in which SEFE Securing Energy for Europe GmbH owns, directly or indirectly, a 50