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
European Union
CBP Issues Guidance on EU Section 232 Tariff Rate Quotas on Imports of Aluminum and Steel Articles
On December 29, 2021, U.S. Customs and Border Protection (CBP) issued several guidance documents through its Cargo Systems Messaging Service concerning recent Presidential Proclamations that established the tariff rate quota (TRQ) process for imports of aluminum and steel articles from the member countries of the European Union (EU). See Update of December 29, 2021 for…
President Biden Issues Proclamations Adjusting Imports of Steel and Aluminum into the United States
On December 28, 2021, President Joseph Biden issued two proclamations – Adjusting Imports of Steel into the United States and Adjusting Imports of Aluminum into the United States. In each proclamation, the president acknowledged that:
“the United States has successfully concluded discussions with the EU [European Union] on behalf of its member countries on…
BIS Seeks Public Comments on U.S.-EU Export Control Cooperation
On November 30, 2021, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Notice of Inquiry in the Federal Register seeking public comments regarding areas and priorities for United States and European Union (EU) export control cooperation. This information gathering is intended to inform and assist the work of the U.S.-EU Trade…
United States and European Union Reach Agreement on Steel and Aluminum Imports; Section 232 Duties to Be Removed
On October 30, 2021, the United States and the European Union (EU) reached an agreement regarding the Section 232 tariffs on steel and aluminum imports from the EU that were implemented during the Trump administration. Under the agreement, the United States will replace the current Section 232 duties with tariff-rate quotas (TRQs) for covered EU…
United States, Austria, France, Italy, Spain and the United Kingdom Reach Agreement on Digital Services Taxes
On October 21, 2021, the Department of the Treasury announced that the United States has reached an agreement with Austria, France, Italy, Spain and the United Kingdom on the treatment of digital services taxes (DSTs), a little more than a month before the United States was scheduled to implement additional duties of 25% on certain…
U.S.-EU Hold Inaugural Trade and Technology Council Meeting
On September 29, 2021, the inaugural meeting of the United States–European Union Trade and Technology Council (TTC) met to discuss and establish “common principles to update the rules for the 21st century economy.” Attending were U.S. Co-Chairs, Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo and United States Trade Representative Katherine Tai, and…
U.S.-EU Summit Statement Addresses Trade, Investment and Technological Cooperation
On June 15, 2021, the United States and European Union (EU) issued a joint Summit Statement trumpeting a “renewed transatlantic partnership” at the conclusion of President Joseph Biden’s first trip abroad as president. The statement establishes a Joint Transatlantic Agenda “for the post-pandemic era, and … regular dialogue to take stock of progress.” The leaders…
U.S. and EU Announce Cooperative Framework to Settle Longstanding WTO Large Civil Aircraft Dispute
On June 15, 2021, the United States and the European Union (EU) announced a “cooperative framework” to resolve their decades-long World Trade Organization (WTO) dispute involving alleged subsidies in the large civil aircraft industry supporting both Boeing and Airbus. U.S. Trade Representative Katherine Tai stated, “Our goal was clear – to forge a new, cooperative…
EU Approves New Standard Contractual Clauses for Cross-Border Data Transfers
On June 6, the European Commission adopted new Standard Contractual Clauses (SCCs) to enable organizations to transfer personal data outside the European Union (EU) in accordance with the General Data Protection Regulation (GDPR). The new SCCs are intended to address the complex data processing issues that impact modern businesses, and they impose several novel obligations…