Under Section 301 of the Trade Act of 1974, the President has the authority to impose tariffs on imports to counter trade practices that the US Trade Representative finds either to violate or conflict with a trade agreement or to burden or restrict US commerce unjustifiably.
Brexit woes in 2018 did not deter parties from referring disputes to the LCIA. The LCIA released its Annual Casework Report, revealing a growing preference for use of the institution’s Rules, increased recourse to expedited procedures, and parties hailing to the LCIA from diverse regions.
On March 4, the Trump Administration announced the termination of India and Turkey as recipients of the Generalized System of Preferences, on grounds that neither country adheres to the program’s statutory eligibility criteria.
Economic sanctions turbulence continued virtually unabated in 2018 and into early 2019, making work for the sanctions experts both in and out of the US government.
The US Government has been under a partial shutdown since December 21, 2018, and it is anyone’s guess when the shutdown will end. Congress has recessed until this week, and there is little word of progress among the parties.
Despite Secretary Mnuchin’s statement last week that the Section 301 tariffs were “on hold,” President Trump announced this morning that he is moving ahead with the additional 25 percent ad valorem tariffs on certain Chinese imports to protect US intellectual property rights.
On May 20, 2018, Secretary of the Treasury Steven Mnuchin stated that the US was “putting the trade war on hold,” pending negotiations with China to reduce the US trade deficit and address certain acts, policies, and practices related to intellectual property rights.
Following a tweet from President Donald Trump that there was “big news coming soon” for the automotive industry, the Department of Commerce (DOC) formally announced on May 24, 2018 an investigation into the impact of certain automotive imports on US national security interests.
The May 21 notice provides guidance on the manner in which imports whose exclusion requests are approved by the DOC should be entered in order to avoid the Section 232 duties.
Following the Presidential Proclamations issued April 30, 2018 regarding the imposition of double-digit tariffs on certain steel and aluminum imports (Section 232 tariffs), US Customs and Border Protection published further guidance detailing the implementation of the Section 232 tariffs.
Importers of known industries where North Korean forced labor is used, such as footwear, textiles, seafood, mining, pharmaceuticals, and logging, must exert caution or be prepared to face the consequences.
Government regulators have struggled to keep pace with entrepreneurs as they launch new cryptocurrencies and trading platforms, resulting in largely unregulated virtual currency exchanges.
International Trade Practice Group Leader Kay Georgi and Counsel Regan Alberda discussed economic sanctions under President Donald Trump in an article for The Current: The Journal of the PLI Press.
Right before the holidays, President Trump and his Administration took significant steps toward using economic sanctions to tackle international human rights abuses and corruption.
On July 3, Arent Fox senior policy advisor and former Senator Byron Dorgan (D-ND) was a guest on CNBC’s Squawk on the Street. Senator Dorgan was joined by James Glassman, the former Under Secretary of State.
