Arent Fox LLP updates
Sanctions snapback: Trump announces withdrawal from Iran nuclear deal
Arent Fox LLP- International Trade
- USA
- May 18 2018
Before former President Obama left office in late 2016, the Department of the Treasury's Office of Foreign Assets Control (OFAC) published a list of FAQs to address the possibility of revoking the relaxed sanctions on Iran. Following President Trump's recent announcement that the United States is withdrawing from the Joint Comprehensive Plan of Action, OFAC has published new FAQs explaining how the re-imposition of sanctions will go into effect.
GSP refunds: duty savings opportunities for importers
Arent Fox LLP- International Trade
- USA
- May 11 2018
US Customs and Border Protection recently published guidance for claiming refunds on duty preference claims made under the Generalised System of Preferences (GSP) between the programme's expiration and the implementation date of its reauthorisation. The GSP programme promotes economic growth in developing countries by providing duty-free treatment of certain products imported from designated beneficiary countries.
Government ramps up enforcement of North Korean forced labour provisions
Arent Fox LLP- International Trade
- USA
- April 27 2018
Importers associated with industries where North Korean forced labour is known to be used must exert caution or be prepared to face the consequences. Failure to ensure that a company's supply chain is free from products resulting from North Korean forced labour will result in seizure and forfeiture of the prohibited merchandise, civil fines and possibly criminal prosecution.
First year of economic sanctions under Trump administration
Arent Fox LLP- International Trade
- USA
- April 20 2018
In its first year, the Trump administration has tackled sanctions issues involving Cuba, Iran, North Korea, Russia, Sudan and Venezuela, as well as individuals involved in human rights abuses and corruption. In some cases, the result has been forced by Congress; in others, the president has 'made good' on campaign promises. Most have involved the heightened rhetoric and threats characteristic of Trump's presidency, but the rhetoric has often outpaced the actual action.
USTR publishes list of products subject to Section 301 tariffs
Arent Fox LLP- International Trade
- USA
- April 06 2018
Following President Trump's recent memorandum, the Office of the United States Trade Representative has published a proposed list of Chinese products that could be subject to 25% ad valorem tariff pursuant to Section 301 of the Trade Act 1974. As expected, the list of affected tariff numbers is heavily geared towards the technology sector, including the aerospace, information and communication technology, robotics and machinery industries.
President Trump announces tariffs on $50 billion of Chinese imports
Arent Fox LLP- International Trade
- USA
- April 06 2018
President Trump recently signed a memorandum that marks the start of a multi-faceted trade offensive against China. The memorandum is designed to respond to the administration's findings of misappropriation of US intellectual property and discriminatory technology licensing practices. In addition, the administration instructed the Treasury Department to propose restrictions on investment in the United States by Chinese-controlled entities and funds in certain industries or technologies.
Steel and aluminium Section 232 determinations: boardroom angst
Arent Fox LLP- International Trade
- USA
- March 23 2018
Now that President Trump has made his determination on the tariffs to be applied as a result of the Section 232 investigations of certain imports of steel and aluminium products, boardrooms around the globe are pondering the short and long-term implications for their corporate bottom lines. Section 232 investigations have been rare and thus little legal precedent is available for guidance. That said, there are 10 questions worth considering.
What are the risks of doing business with Russian Oligarchs List and Russian Defence and Intelligence List?
Arent Fox LLP- International Trade
- USA
- March 16 2018
At the end of January 2018, the Trump administration took two actions relating to the Russia and Ukraine sanctions programme under the Countering America's Adversaries Through Sanctions Act 2017, the law that President Trump signed on August 2 2017. While these acts did not result in the imposition of any actual sanctions, they do provide additional hints to businesses of where the Trump administration is heading in the months ahead, identifying risk areas that businesses can review and assess.
Commerce Department issues Section 232 national security investigation reports on steel and aluminium
Arent Fox LLP- International Trade
- USA
- March 02 2018
The Commerce Department recently released its redacted public version of the Section 232 reports on the effects of imports of steel and aluminium on national security. Both the steel and aluminium reports provide a range of options for the president to consider in restricting imports of aluminium and steel products. This news is expected to trigger swift and pronounced reactions from trading partners and affected US downstream industries.
Important updates to ring in 2018
Arent Fox LLP- International Trade
- USA
- February 02 2018
The beginning of a new year often brings new regulations or changes to programmes. Customs programmes are no exception. Some key January 2018 changes for importers include fee increases, the expiration of the Generalised System of Preferences and changes to the tariff code.
Trump administration is enforcing global Magnitsky sanctions: impact on international business
Arent Fox LLP- International Trade
- USA
- January 26 2018
The Trump administration recently took significant steps towards using economic sanctions to tackle international human rights abuses and corruption. The administration's actions underline the ever-growing importance of know-your-customer and anti-corruption due diligence and compliance procedures for international business.
What could happen to imports if government shuts down: 2018 version
Arent Fox LLP- International Trade
- USA
- January 12 2018
Based on recent activity in Congress, the possibility of a shutdown of US federal government activities for at least a brief period is looming larger. Although it is unknown what the US Customs and Border Protection and other government agencies involved in import operations would likely do in the event of a shutdown, the 2013 federal government shutdown can be useful as a planning tool for importers.
