On June 1, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 8H, “Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities.” This general license continues to
OFAC Publishes Formal Burma Sanctions Regulations
By Scott E. Diamond** on
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has formally issued the Burma Sanctions Regulations to implement Executive Order 14014 of February 10, 2021, “Blocking Property With Respect to the Situation in Burma.” See SmarTrade Update of February 11, 2021. These regulations took effect on June 1, 2021, and are now…
USMCA Free Trade Commission Holds Inaugural Meeting as USMCA in Full Force
Key Notes:
- USMCA trade ministers meet, demonstrating that USMCA is in full force
- USMCA compliance required as of now
- Auto rules of origin and labor were key issues in discussions
On May 18, 2021, the U.S.-Mexico-Canada Agreement (USMCA) Free Trade Commission (FTC) held its inaugural meeting, which was led by U.S. Trade Representative (USTR) Katherine…
U.S. Government Files Opposition to Motion for Preliminary Injunction in CIT Section 301 Tariff Refund Litigation
By Scott E. Diamond** on
On May 14, 2021, the U.S. government defendants in the ongoing Court of International Trade (CIT) litigation over Section 301 tariffs on certain imports of Chinese products filed their opposition to the plaintiffs’ motion for a preliminary injunction that would suspend collection of these tariffs on imports covered by List 3 and List 4A as…
U.S. and EU Seek to Address Global Steel and Aluminum Excess Capacity
By Scott E. Diamond** on
On May 17, 2021, the United States and European Union (EU) issued a Joint Statement agreeing to discussions in an effort to address global steel and aluminum excess capacity. In their statement, U.S. Trade Representative Katherine Tai, Secretary of Commerce Gina Raimondo, and European Commission Executive Vice President Valdis Dombrovskis acknowledged the impact of this…
BIS Issues FAQs on Foreign Military Sales
By Scott E. Diamond** on
On May 12, 2021, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a series of Frequently Asked Questions (FAQs) in an effort to respond to numerous questions from industry regarding the export of items that have been moved from the U.S. Munitions List under the International Traffic in Arms Regulations (ITAR) to…
USTR Tai Testifies on President Biden’s Trade Agenda
By Scott E. Diamond** on
On May 12, 2021, U.S. Trade Representative Katherine Tai testified before the U.S. Senate Finance Committee on President Joseph Biden’s trade agenda. Ambassador Tai’s written testimony noted that the Biden administration wants “a fair international trading system that promotes inclusive growth and reflects America’s universal values.” She noted that support from Congress would add “more…
DOD Agrees to Drop Chinese Company from CCMC List
By Scott E. Diamond** on
In a joint status report filed on May 11, 2021, the Department of Defense (DOD) and Xiaomi Corporation (Xiaomi) notified the U.S. District Court for the District of Columbia that they have reached an agreement in which Xiaomi will be removed from DOD’s list of Communist Chinese Military Companies (CCMC). DOD agreed that a final…
Money Transfer Services Company Settles with OFAC for Apparent Violations of Sanctions Programs
By Scott E. Diamond** on
On April 29, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement with MoneyGram Payment Systems, Inc. (MoneyGram), a global payments and money transfer company. Under the settlement, MoneyGram agreed to pay a $34,000 civil penalty for 359 apparent violations of multiple OFAC sanctions programs. MoneyGram provided services to…
Commerce Issues Fine for Misrepresentations Made in CJ Request
By Scott E. Diamond** on
On April 30, 2021, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a notice announcing a settlement and fine of over $300,000 to FLIR Systems, Inc. for an egregious violation of the Export Administration Regulations (EAR). This settlement highlights that violations of the EAR are not limited to physical exports of goods…