Trade law and supply chain news, insights, and commentary
Today, the U.S. and the EU have concluded a framework agreement that covers trade-related areas, as well as broader discussions on regulatory and economic policies.
With regard to tariffs, the EU will eliminate tariffs on all U.S. industrial goods and provide preferential market access for U.S. seafood and agricultural products. Additionally, the EU committed not…
On December 8, Senate Finance Committee members Bill Cassidy (R-LA) and Sheldon Whitehouse (D-RI) introduced the “Customs Modernization Act of 2023.” The act, which would amend the Tariff Act of 1930 “to strengthen the authorities of U.S. Customs and Border Protection (“CBP”) to enforce the customs and trade laws of the United States,” enhances CBP’s…
On May 23rd, President Biden, accompanied by Japanese Prime Minister Kishida and Indian Prime Minister Narendra Modi, formally unveiled the Indo-Pacific Economic Framework for Prosperity (IPEF). The agreement is significant as the participating economies represent over 40% of global gross domestic product, and include five countries not included in the original Trans-Pacific…
Customs and Border Protection (CBP) has announced that it will be issuing known importer letters to importers the agency has identified as having previously imported merchandise that may be subject to the Uyghur Forced Labor Prevention Act (UFLPA). CBP aims to issue these letters in advance of June 21, 2022 – which is when the…
To complement legislation introduced by Ohio Sens. Rob Portman (R) and Sherrod Brown (D), the House included changes to trade remedies law in the COMPETES Act. In addition to the updates outlined in our May 2021 update, the COMPETES Act also grants U.S. Customs and Border Protection (CBP) a statutory basis to investigate claims…
Our Trans-Atlantic team provides guidance on the current state of the rapidly changing Russia-related sanctions landscape, including new measures both implemented and expected, from the United States, United Kingdom, and European Union.
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On February 8, 2022, The Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) by adding Wuxi Biologics, one of the most valuable Chinese biotechnology companies, and thirty-two other organizations to the Unverified List (UVL).
In the accompanying BIS press release, Matthew S. Axelrod, Assistant Secretary for Export Enforcement, noted that…
On January 25, 2022, the House Ways and Means Committee released the America COMPETES Act as the House counterpart to the U.S. Innovation and Competition Act. Commonly referred to as the China packages, both pieces of legislation include trade titles which will now proceed to conference following a floor vote in the House. While the…
On October 4, 2021, United States Trade Representative (“USTR”) Katherine Tai delivered a speech at the Center for Strategic and International Studies (CSIS) highlighting the Biden Administration’s new strategy for navigating U.S.-China trade relations. Ambassador Tai focused her remarks on President Biden’s vision for a worker-centered trade policy in the U.S.-China trade dynamic, however the…
On July 19, 2021, the United States and Vietnam announced an agreement on currency practices. The announcement was made following a high-level meeting between U.S. Treasury Secretary Yellen and Vietnamese State Bank Governor Hong and in the context of rising U.S. concern over Vietnam’s foreign exchange market interventions. The agreement aims to address the currency…
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