As we wrote previously, the U.S. Department of the Treasury has issued a final rule that takes effect on December 26 that will dramatically raise the Committee on Foreign Investment in the United States (CFIUS) penalties from...more
12/30/2024
/ Artificial Intelligence ,
Bureau of Industry and Security (BIS) ,
Canada ,
CFIUS ,
China ,
Conspiracies ,
Directorate of Defense Trade Controls (DDTC) ,
Economic Sanctions ,
Export Controls ,
False Statements ,
Financial Institutions ,
Foreign Investment ,
International Trade ,
Investment ,
Iran ,
ITAR ,
Mexico ,
Office of Foreign Assets Control (OFAC) ,
Outbound Transactions ,
Russia ,
Tariffs ,
Trump Administration ,
U.S. Treasury
The U.S. Commerce Department is soliciting comments on a proposed rule to prohibit importing and selling Vehicle Connectivity System hardware and software designed, developed, manufactured, or supplied by persons owned by,...more
10/11/2024
/ Boycotts ,
CFIUS ,
China ,
Connected Cars ,
Customs and Border Protection ,
Economic Sanctions ,
Export Controls ,
Hong Kong ,
Motor Vehicles ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
PRC ,
Recordkeeping Requirements ,
Red Flags Rule ,
Russia ,
Software ,
Supply Chain ,
Tariffs ,
U.S. Commerce Department ,
US Department of State ,
USTR
On May 10, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an Interim Final Rule (IFR), effective August 8, 2024, that updates the Reporting, Procedures, and Penalties Regulations....more
6/14/2024
/ Antiboycott Requirements ,
Biden Administration ,
Blocked Entities ,
China ,
Customs and Border Protection ,
Department of Justice (DOJ) ,
Export Administration Regulations (EAR) ,
Exports ,
Interim Final Rules (IFR) ,
Israel ,
Office of Foreign Assets Control (OFAC) ,
Reporting Requirements ,
Russia ,
Section 301 ,
Self-Disclosure Requirements ,
Senate Finance Committee ,
Tariffs ,
Turkey ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine ,
USTR ,
Uyghur Forced Labor Prevention Act (UFLPA)
Ford Motor Company Agrees to $365M Settlement for Attempted Tariff Engineering Ford has agreed to settle the long-standing dispute over the tariff classification of vans imported from 2009 to 2013. At the time, Customs and...more
4/8/2024
/ Antiboycott Requirements ,
Bribery ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Connected Cars ,
Court of International Trade ,
Customs and Border Protection ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
Forced Labor ,
Ford Motor ,
Foreign Corrupt Practices Act (FCPA) ,
Information and Communication Technology (ICT) ,
Office of Foreign Assets Control (OFAC) ,
Personal Data ,
SDN List ,
Section 301 ,
Tariffs ,
U.S. Treasury ,
Unfair or Deceptive Trade Practices ,
USDA ,
USTR ,
Uyghur Forced Labor Prevention Act (UFLPA)
On December 11, the Department of Justice, the Department of Commerce’s Bureau of Industry and Security (BIS), the Department of Homeland Security, the Department of State’s Directorate of Defense Trade Controls (DDTC), and...more
1/12/2024
/ Bad Actors ,
Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Homeland Security (DHS) ,
Department of Justice (DOJ) ,
Directorate of Defense Trade Controls (DDTC) ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Subsidiaries ,
Iran Sanctions ,
Nasdaq ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Supply Chain ,
Tariffs ,
U.S. Commerce Department ,
Virtual Currency
On Aug. 9, President Joe Biden signed an Executive Order providing the framework for investment restrictions in China (including Hong Kong and Macau). The President has tapped the Department of the Treasury to oversee a...more
8/11/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
China ,
Coronavirus/COVID-19 ,
Executive Orders ,
Foreign Investment ,
Intelligence Services ,
Joe Biden ,
Microchip Technology ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
PRC ,
Screening Procedures ,
Section 301 ,
Semiconductors ,
Tariffs ,
Technology Sector ,
USTR
Crypto Asset Company Settles Sanctions Violations for $7.5 million-
On May 1, the U.S. Department of Foreign Assets Control (OFAC) announced a $7.5 million settlement with crypto asset company Poloniex LLC for 65,942 apparent...more
6/14/2023
/ Books & Records ,
CFIUS ,
China ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Directorate of Defense Trade Controls (DDTC) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Workers ,
Form I-9 ,
Human Resources Professionals ,
International Emergency Economic Powers Act (IEEPA) ,
Know Your Customers ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
USTR
In late December 2021, President Joe Biden signed the Uyghur Forced Labor Prevention Act (UFLPA). The new law creates a rebuttable presumption that any goods created in whole or in part in the Xinjiang Uyghur Autonomous...more
5/11/2022
/ Belarus ,
Bitcoin Mining ,
China ,
Cryptocurrency ,
Customs and Border Protection ,
Cyber Attacks ,
False Statements ,
FBI ,
Federal Trade Commission (FTC) ,
Forced Labor ,
Joe Biden ,
Made in the USA ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Section 301 ,
Tariffs ,
Trade Relations ,
U.S. Treasury ,
Uyghur Forced Labor Prevention Act (UFLPA)
1. Updates to Russia Sanctions and Export Controls-
In response to the ongoing attack on Ukraine, the U.S. government continues on a weekly basis to increase economic sanctions and export controls on Russia.
...more
4/11/2022
/ Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Court of International Trade ,
Cryptocurrency ,
Economic Sanctions ,
Environmental Social & Governance (ESG) ,
Export Administration Regulations (EAR) ,
Export Controls ,
FCC ,
International Trade ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
Supply Chain ,
Tariffs ,
U.S. Treasury
1. BIS Eliminates Reporting Requirements for Certain Encryption Items Effective March 29, 2021, BIS eliminated or reduced reporting requirements for certain encryption items.
For encryption source code and beta test...more
5/27/2021
/ Bureau of Industry and Security (BIS) ,
China ,
Encryption ,
Executive Orders ,
Financial Institutions ,
Foreign Direct Investment ,
Huawei ,
Joe Biden ,
Pharmaceutical Industry ,
Proposed Legislation ,
Reporting Requirements ,
Russia ,
Sanctions ,
Section 301 ,
Software ,
Supply Chain ,
Surveillance ,
Tariffs ,
Technology Sector ,
USTR ,
ZTE
Welcome to the inaugural edition of Lowenstein Sandler’s Trade Matters. Each month, we will cover important developments related to international trade law and compliance. We look forward to a continuing dialogue with our...more
3/1/2021
/ Bureau of Industry and Security (BIS) ,
China ,
Court of International Trade ,
Entity List ,
EU ,
Executive Orders ,
Extraterritoriality Rules ,
Forced Labor ,
Imports ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Sanctions ,
Supply Chain ,
Tariffs ,
UK