A new interim rule goes into effect today and prevents federal agencies from certain business transactions with a variety of Chinese technology firms. Read more.
According to Treasury Department statistics, during the first six months of 2019, the Office of Foreign Assets Control (OFAC) has issued nearly $1.3 billion in penalties. That represents 18 settled cases and is an amount which is 17 times greater than all of 2018 (when there were seven settled cases.)
On June 20, 2019, the Department of Justice announced that Walmart and its wholly owned Brazilian subsidiary plead guilty and agreed to pay a combined criminal penalty of $137 million to resolve allegations of violations of the Foreign Corrupt Practices Act (“FCPA”). The fines include $728,898 in criminal penalties, $3,694,490 in criminal forfeiture, plus a mandatory Special Assessment.
Proposed changes to the AECA include granting India Major Non-NATO Ally Status, however, at the same time, the U.S. is considering sanctions against them due to a proposed purchase of a Russian missile system. Will the amendment of the AECA be enough to convince India to cancel the purchase?
President Trump has declared a national emergency to deal with the threat of foreign acquisition of U.S. technology. This new order gives broader powers to the Commerce Department to target foreign adversaries.
In the latest action to help the United States in its race to build a supercomputer, on June 24, 2019, the Department of Commerce published a Final Ruling amending the Export Administration Regulations (EAR) by adding five entities to the Entity List.
In response to the U.S. imposition of additional tariff increases, China’s Ministry of Finance announced they will increase tariffs on about $60 billion of U.S. goods on June 1, 2019. There are four lists encompassing a variety of different products.
Just when you thought you were up to date with the surge of news about the additional tariffs, there is more. Last week, the President announced the assessment of tariffs on all products from Mexico beginning on June 10, 2019.
So you’ve never directly heard of China’s National Intelligence Law? Think Huawei, which has long been accused of having "backdoors" in their equipment allowing access to information by the Chinese government. Huawei is only one example of actions being taken to protect U.S. assets and technology.
The United States Trade Representative has published a notice requesting comments on additional tariffs of up to 25% on products of China. In addition to requesting comments concerning the increase, the USTR published the proposed list of these products by HTS Number.