Senate Finance Chairman Wyden (D-OR) is expected to soon introduce legislation that will target de minimis reform. The legislation, dubbed the Fighting Illicit Goods, Helping Trustworthy Importers, and Netting Gains (FIGHTING) for American Act, would prohibit goods impacted by Sections 232, 301, and 201, as well as those considered sensitive goods by GSP, from entering
OFAC Issues Notice for New Reporting Requirements for Financial Institutions Under the Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act
On July 23, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a notice about new reporting requirements (the OFAC Reporting Notice) under the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (REPO for Ukrainians Act). As discussed in our previous client alert, the REPO for Ukrainians Act authorizes
ITAR and EAR Proposed Rules Expand Controls on U.S. Person Services
On July 25, 2024, the U.S. Departments of State and Commerce issued new proposed rules that, if implemented, would (1) increase the restrictions associated with U.S. persons providing services in support of non-U.S. military-related end users / uses; and (2) implement new controls associated with exports, reexports, and transfers of items subject to the EAR
U.S. Tightens Sanctions on Russia, Now Targeting Companies Based in China
On Wednesday, May 1, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it issued new sanctions on nearly 200 entities and individuals for supporting Russia’s invasion of Ukraine, intensifying U.S. efforts to thwart Russia’s attempts to circumvent Western sanctions. The list includes more than a dozen of companies
BIS Streamlines Export Controls for Transfers to and Among Australia and the UK
On April 19, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) to enhance technological innovation and support the goals of the AUKUS trilateral security partnership.
The interim final rule makes six primary export control policy changes that effectively provide Australia and the UK nearly the same
New U.S. Sanctions and Export Controls Imposed on Iran Following Recent Attacks on Israel
On Thursday, April 18, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions on Iran following its April 13, 2024 attack on Israel. OFAC designated 16 individuals and ten entities as Specially Designated Nationals and Blocked Persons (SDN), specifically those involved in Iran’s unmanned aerial vehicle (UAV), steel, and
Luxury automobiles from China detained by CBP over forced labor violations
“Several thousands” of vehicles from German luxury brands including Porsche, Bentley, and Audi have been detained at U.S. ports following the discovery of a Chinese subcomponent violating U.S. anti-forced labor laws. The parent company, Volkswagen Group, had sourced a key electronic component through a supplier further down the company’s supply chain and was unaware of
IPEF Supply Chain Agreement Formally Signed by 14 Indo-Pacific Nations
On November 16, the U.S. signed a major multilateral supply chain agreement with its 13 Indo-Pacific Economic Framework for Prosperity (IPEF) partners – Australia, Brunei, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. As highlighted in the IPEF joint statement, the 14 countries announced the signature of
Commerce initiates review of Vietnam’s nonmarket economy status
In an October 24 press release, the U.S. Department of Commerce (“Commerce”) announced that it will initiate a review of Vietnam’s current status as a “nonmarket economy”. Commerce’s decision follows an official request submitted by the Government of Vietnam on September 8, 2023, to recognize the country as a market economy, and a recent
Commerce Concludes Controversial Investigation Into Solar Panels From China
On August 18, the U.S. Department of Commerce concluded an investigation it launched early last year on solar cells and modules from the People’s Republic of China (PRC). Commerce provided its conclusions in a Federal Register notice, highlighting that five specific Chinese companies are shipping Chinese-origin solar products to certain Southeast Asian countries for