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US and UK reach understanding on large civil aircraft; tariffs to be suspended for five years

By 5 Mins Read

In a Joint Statement with the UK, on June 17, 2021, the US Trade Representative (USTR) announced, that: The United States and the United Kingdom [today] reached an understanding to resolve a long-standing trade irritant relating to large civil aircraft. This development strengthens our special relationship and builds on the revitalized Atlantic Charter, which affirms our ongoing commitment to sustaining and defending our enduring values against new and old challenges. The framework provides that the…

UN Security Council unanimously extends authorization to inspect vessels suspected of violating Libya Arms Embargo

By 1 Min Read

On 5 June 2020, the Security Council in a videoconference meeting announced that it had unanimously decided to extend for one year a series of authorizations for Member States to inspect vessels on the high seas off the coast of Libya suspected of violating that country’s arms embargo. In adopting resolution 2526 (2020) under Chapter VII of the Charter of the United Nations, the 15-member Council decided to extend the authorization laid out in resolution 2473 (2019) for 12 months. Those measures…

US – USTR publishes TAA procurement thresholds

By 1 Min Read

On December 23, 2019, the Office of the US Trade Representative (USTR) published in the Federal Register a notice setting the US dollar procurement thresholds to implement certain US trade agreement obligations, as of January 1, 2020, for calendar years 2020 and 2021. Executive Order 12260 requires the USTR to set the US dollar procurement thresholds for application of Title III of the Trade Agreements Act of 1979, as amended (TAA; 19 U.S.C. 2511 et…

US – USTR publishes additional Sec. 301 exclusions for Lists 1 and 2 and corrects certain HTSUS notes

By 4 Mins Read

On October 2, 2019, the Office of the US Trade Representative (USTR)published in the Federal Register a notice granting additional product exclusions from $34 billion action (List 1/first tranche) assessing Sec. 301 tariffs imposed on products of Chinese origin. The notice (which had been previously posted on USTR’s website on September 27) covers additional exclusions for 92 specially prepared product descriptions, which cover 129 separate exclusion requests from the $34 billion action. USTR said it …

US – President announces US will not ratify UN Arms Treaty

By 1 Min Read

During a speech at the National Rifle Association convention on April 26, 2019, President Trump announced that the US would not ratify the UN Arms Trade Treaty and that his administration would ask the Senate to return the Treaty without taking action. The US had signed the Treaty in 2013 but it has not been ratified by the Senate. The White House issued a fact sheet explaining the decision. The US had been an original…

US – New sanctions measures put shipping industry on notice of North Korea sanctions risks

By 4 Mins Read

As part of its continuing efforts to isolate North Korea from the world economy, on February 23, 2018, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced new sanctions measures targeting North Korea’s shipping industry and issued an advisory document entitled “North Korea Sanctions Advisory,” which highlights sanctions risks in the global shipping industry.