On June 12, 2024, the Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security (BIS) announced new sanctions and export control restrictions on Russia and Belarus. These measures have significant implications for companies that do business with or in these regions, as they may face new licensing requirements, limitations, or prohibitions
APHIS Announces Implementation of Phase VII of the Lacey Act’s Import Declaration Requirement
On May 31, 2024, the Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS) published a Federal Register notice announcing the seventh phase of the Lacey Act’s import declaration requirement, adding enforcement of Phase VII will begin on December 1, 2024. Known as “the United States’ oldest wildlife protection statute,” the Lacey Act (16
OFAC Updates Cuban Regulations to Increase Support for Cuban People
On May 28, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) revised the Cuban Assets Control Regulations (CACR) to enhance support for the Cuban people and independent Cuban private sector entrepreneurs. These amendments, effective on May 28, 2024, aim to promote internet freedom and broaden financial services in Cuba. In
USTR Extends Certain China Section 301 Product Exclusions but Allows Others to Expire
On May 24, 2024, the Office of the United States Trade Representative (USTR) announced that it was further extending certain product exclusions in the Section 301 Investigation of China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation. The current 429 product-specific exclusions were scheduled to expire on May 31, 2024. However
USTR Announces Tariff Increases and Seeks Comments on Proposed China Section 301 Tariff Actions
On May 28, 2024, the Office of the U.S. Trade Representative (USTR) posted in the Federal Register a request for comments regarding its proposed modifications to certain tariffs related to the Section 301 investigation of China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation that was initiated in 2018 and resulted
BIS Updates Section 232 Steel and Aluminum Tariff Exclusion Process by Removing 12 GAEs
On May 17, 2024, the Commerce Department’s Bureau of Industry and Security (BIS) published a Final Rule revising the Section 232 tariff exclusion process for imported steel and aluminum products. These changes, effective July 1, 2024, are intended “to refine the framework under which exclusions from the tariffs on steel and aluminum can be requested
DHS Updates UFLPA Entity List with 26 Chinese Entities
On May 17, 2024, the Department of Homeland Security (DHS) issued a Federal Register notice announcing that effective immediately, 26 Chinese entities have been added to the UFLPA Entity List. These entities include cotton traders and warehouse facilities within China, but the majority of which operate outside of the Xinjiang Uyghur Autonomous Region (XUAR). DHS
President Biden Orders Chinese-Affiliated Company to Divest Itself from Real Estate Near Air Force Base in Wyoming
Citing national security concerns, President Biden issued an executive order (EO) on May 13, 2024, demanding a Chinese-affiliated company “sell or transfer” its ownership interests and any other rights in an approximately 12-acre lot that comes within one mile of Francis E. Warren Air Force Base (“Warren AFB”) in Cheyenne, Wyoming. The divestment order is
Biden Administration Releases China Section 301 Four-Year Review Report and Announces Tariff Updates to Counter China’s Unfair Trade Practices
- The Section 301 tariff actions have been effective in encouraging China to take steps toward eliminating its unfair practices, but it has not eliminated many of its forced technology transfer-related acts, policies and practices.
- Products currently subject to Section 301 duties will remain subject to the existing additional duties.
- The USTR will implement
BEA’s Foreign Direct Investment Reporting Requirements: A Primer
- The Department of Commerce’s Bureau of Economic Analysis requires the reporting of certain statistical data on foreign direct investment in the United States. This includes reporting data when a foreign entity acquires a U.S. business, when a foreign entity or its existing U.S. affiliate establishes a new legal entity, or when an existing