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United States: A new approach to OFAC’s rejected-transactions reporting

by 1 Min Read

In June 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control, or OFAC, significantly changed the scope of reporting requirements related to so-called rejected transactions, particularly in terms of expanding the reporting base beyond financial institutions and funds transfers. In February, OFAC issued FAQs to confirm that these reporting requirements apply to companies outside the financial sector.However, OFAC has not provided public guidance to nonfinancial sectors seeking to comply with U.S. sanctions…

US – Commerce initiates Sec. 232 investigation into imports of laminations and wound cores for incorporation into transformers, electrical transformers, and transformer regulators

by 2 Mins Read

On May 4, 2020, Secretary of Commerce Wilbur Ross announced he will initiate an investigation into whether laminations for stacked cores for incorporation into transformers, stacked and wound cores for incorporation into transformers, electrical transformers, and transformer regulators are being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security. The decision to launch an investigation under Section 232 of the Trade Expansion Act of…

US Government extends Huawei Temporary General License to August 13, 2020 and revises the EAR’s Foreign-Produced Direct Product Rule to target Huawei’s acquisition of semiconductors that are the direct product of certain US technology or software

by 2 Mins Read

On May 19, the US Commerce Department’s Bureau of Industry and Security (BIS) issued an interim final rule effective on May 15, 2020, amending the Export Administration Regulations’ (EAR) General Prohibition Three (the “foreign-produced direct product rule”) and Entity List to impose new controls on the reexport, export from abroad, and transfer (in-country) of certain foreign-produced semiconductor-related items when such items are the direct product of certain designated US technology or software and are destined to Huawei…

US – USTR grants additional Tranche 1 exclusions extensions

by 1 Min Read

On May 15, 2020, the Office of the US Trade Representative (USTR) published in the Federal Register a notice that announces the USTR’s determination to extend until December 31, 2020 certain exclusions from the 25% additional duties imposed in the first round [Tranche 1 ($34 Bn.)] of Sec. 301 actions against certain Chinese goods. These exclusions were due to expire on May 14, 2020. Although the Federal Register notice requesting comments on possible extensions stated…

US – CBP issues guidance on 13th round of exclusions for Sec. 301 Tranche 3 (9903.88.46)

by 3 Mins Read

On May 8, 2020, CBP issued CSMS #42693720 – GUIDANCE: Section 301 Tranche 3 – $200B: 13th Round of Product Exclusions from China. The operative sections of the message are shown below: Background On May 8, 2020, the U.S. Trade Representative (USTR) published Federal Register (FR) Notice 85 FR 27489 announcing the decision to grant the 13th round of certain requested exclusions from the Section 301 duty related to goods from China ($200B Action -…

US – USTR to grant additional extensions on Tranche 1 exclusions

by 1 Min Read

The Office of the US Trade Representative (USTR) has posted on its website an advance copy of a Federal Register notice that announces the USTR’s determination to extend until December 31, 2020 certain exclusions from the 25% additional duties imposed in the first round [Tranche 1 ($34 Bn.)] of Sec. 301 actions against certain Chinese goods. These exclusions were due to expire on May 14, 2020. Although the Federal Register  notice requesting comments on possible…

USTR to grant additional Tranche 4 exclusions

by 2 Mins Read

The Office of the US Trade Representative (USTR) has posted on its website an advance copy of a notice to published in the Federal Register that announces the USTR’s determination to grant certain exclusion requests for products covered by Tranche 4 (approximately $300 Bn.) of the Section 301 action against goods from China, as specified in the Annex to the notice, and corrects a technical error in a previously announced exclusion. The product exclusions announced…

US – USTR to correct earlier exclusion notices for Tranches 1 ($34Bn) and 2 ($16 Bn)

by 1 Min Read

The Office of the US Trade Representative (USTR) has posted on its website advance copies of a notice to published in the Federal Register that announces USTR’s determination to make certain technical amendments to previously granted exclusions to Tranche 1 ($34 Bn.) and a separate notice to be published in the Federal Register that announces USTR’s determination to make certain technical amendments to previously granted exclusions to Tranche 2 (16 Bn). The technical amendments announced…

USTR seeks comments on extending certain Tranche 3 exclusions

by 2 Mins Read

On May 6, 2020, the Office of the US Trade Representative (USTR) published in the Federal Register a notice requesting comments on whether to extend certain exclusions from the action against approximately $200 Bn. of goods from China [Tranche 3] subject to 25% additional duties imposed on September 24, 2018. At this time, USTR is not considering product exclusion notices issued after March 26, 2020. USTR initiated an exclusion process for the $200 billion action…

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