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.
OFAC Again Revises Venezuela General License Extending Delay of PdVSA 2020 8.5% Bond-Related Authorizations
On January 7, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 5J, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After April 20, 2023,” which continues to delay U.S. persons’ ability to enforce bondholder rights to the CITGO
OFAC Amends Several Russia-Related General Licenses
On January 17, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three amended General Licenses (GLs) regarding the continued authorization of certain limited activities in Russia or involving Russian entities.
- Russia-related General License 6C, “Transactions Related to Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates,
OFAC Publishes Preliminary Guidance on Price Cap to Be Placed on Petroleum Products of Russian Origin
On December 30, 2022, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published preliminary guidance on how the United States will implement a price cap policy on petroleum products of Russian origin. OFAC notes that with this preliminary guidance the agency will likely “take a similar approach for Russian petroleum products as
CFIUS Determines It Has No Jurisdiction Over Proposed Chinese-Owned Real Estate in North Dakota
Key Notes:
- Real estate projects may be subject to CFIUS national security review if close to sensitive locations.
- Proactive planning can mitigate transaction delays.
- Security concerns may be broader than CFIUS regulatory issues and merit multi-tiered government and public outreach.
The Committee on Foreign Investment in the United States (CFIUS) recently reviewed a proposed real
OFAC Publishes First Set of Sanctions Against Foreign Persons Involved in the Global Illicit Drug Trade
On December 19, 2022, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) introduced the first set of regulations to be issued under the new Illicit Drug Trade Sanctions (to be codified at 31 CFR part 599). The regulations will go into effect on December 20 pursuant to Executive Order (“E.O.”) 14059 (December