On April 20, 2017, President Trump issued a memorandum announcing that the Secretary of Commerce had initiated an investigation to determine the effects of imported steel on national security. The investigation was initiated under Section 232 of the Trade Expansion Act of 1962, as amended. I. Conduct of Section 232 Investigations Under Section 232, Secretary … Continue Reading
On Friday, April 14, the U.S. Department of Treasury published a widely anticipated semi-annual report detailing the foreign exchange practices of America’s major trading partners. Although he regularly called for China to be labeled as a “currency manipulator” as a candidate, President Donald J. Trump and his administration declined to use the occasion of this … Continue Reading
Cross-Strait Relations In her year-end press conference on December 31, 2016, Taiwan President Tsai Ing-wen focused on her administration’s domestic policy agenda but also noted Beijing’s increasing pressure on Taiwan since she took office on May 20. Beijing has cut off high-level communications between the two sides (while maintaining ties with the former KMT party), … Continue Reading
President-elect Trump’s expressed interest in possibly raising tariffs on imported goods has prompted considerable effort in trying to understand the scope of Presidential authority to raise tariffs. While the Congress has primary authority to set tariffs and the U.S. has made extensive international commitments to not raise tariffs, President-elect Trump will have a degree of … Continue Reading
In October 2014, the Nagoya Protocol entered into force. It created a new international regulatory system affecting all life science companies that conduct R&D on biological material such as animals, seeds, flowers, viruses, fragrances, flavonoids, essential oils, enzymes, yeasts, and so on. So far, compliance by companies is progressing slowly due to unawareness of the … Continue Reading
Uncertainty surrounding the policies of the new administration is felt across industries. In particular, U.S. and Israeli defense industries are anxious for details of a ten-year, $38.8 billion military assistance package that was signed in Washington this past September. Whether the terms of the aid package are upended entirely or left mostly unchanged by the … Continue Reading
Leaders of 19 countries and the European Union, known as the G20, met in Hangzhou, China, on September 4-5 to assess global trends and coordinate economic and financial policies. The first time G20 leaders gathered together was in Washington, D.C., in November 2008, in the throes of the international financial crisis of 2008-2009. It is … Continue Reading
In reaction to the global economic slowdown and commodity price collapse, Saudi Arabia’s leaders have made virtue of necessity in announcing plans for far-reaching economic, educational and related reforms. They aim to innovate and diversify the economy of the Kingdom. The goal is faster growth and job creation, especially in the private sector, in order … Continue Reading
Since President Obama announced the normalization of U.S. relations with Cuba in December of 2014, U.S. businesses have begun to plan for the eventual lifting of U.S. economic sanctions against Cuba. While the Obama Administration has taken a number of steps to jumpstart interactions between U.S. businesses and the Cuban private sector, including easing travel … Continue Reading
In recent days, Citi strategist Jonathan Stubbs and his colleagues have warned that the global economy is trapped in a “death spiral.”[1] Economist Mohamed El-Erian says that the era when policymakers could rely upon growth from easy money provided by Central Banks is over, and went on too long[2]. Nouriel Roubini, also known as Dr. … Continue Reading
After ten years in office, Ban Ki-moon, the UN Secretary General (UNSG), will retire from the UN at the end of 2016. The race for his successor is already underway. Last December, the Presidents of the Security Council (UNSC) and of the UN General Assembly (UNGA) sent out a joint letter soliciting candidates from member … Continue Reading
After more than 5 years of negotiations between partner countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States), the Trans-Pacific Partnership (TPP) trade agreement was finalized in October 2015 and will be confirmed through a formal signing ceremony on February 4th in New Zealand. Although the terms … Continue Reading
On January 16, 2016, the United States and the European Union (“EU”) significantly eased their sanctions against Iran, following verification by the International Atomic Energy Agency (“IAEA”) that Iran had carried out its commitments under the Joint Comprehensive Plan of Action (“JCPOA”), the multilateral agreement signed in mid-July 2015 in which Iran agreed to accept … Continue Reading
Since April of this year, the EU agenda has been totally dominated by the migration issue. The sudden influx of several hundred thousand refugees from Syria, Eritrea and other conflict zones, but also economic migrants from the Balkan countries and elsewhere, has generated an earthquake of such a magnitude that any other discussion had to … Continue Reading
Note: This post is the third in a series of posts on the final text of the Trans-Pacific Partnership (TPP) by Covington’s International and Public Policy lawyers. The final TPP text, which was released on November 5, 2015, is available here. TPP is not expected to enter into force until at least 2016, with the … Continue Reading
The president and his climate negotiating team seem most like the high-wire artist Philippe Petit, who improbably strung a wire between the towers of the World Trade Center and mustered reserves of guts and grace— leavened by intense focus, preparation, and a mild amount of lunacy— to walk between the twin towers. In order for … Continue Reading
President Erdoḡan and his Justice and Development (AKP) party clearly won big on November 1 with over 49 percent of the vote. On November 16-17, Turkey is hosting G20[i] leaders for discussions of global economic and political issues. Some see that as confirmation that the Erdoḡan-supported AKP government is ready to welcome private investment, and … Continue Reading
The IMF and World Bank have now opened their fall meetings in Lima, Peru — forty eight years since the last time they met in Latin America. The twelve countries of the Trans-Pacific Partnership (TPP) (which includes the U.S. and Canada, Mexico, Chile and Peru) have just agreed on a historic deal to reduce trade … Continue Reading
Yesterday, the Court of Justice of the European Union (the “CJEU”) invalidated the European Commission’s Decision on the EU-U.S. Safe Harbor arrangement (Commission Decision 2000/520 – see here). The Court responded to pre-judicial questions put forward by the Irish High Court in the so-called Schrems case. More specifically, the High Court had enquired, in particular, … Continue Reading
Proponents of increased U.S. trade with Cuba rightly point to the potential economic benefits to U.S. exporters, particularly in the food and agriculture sector, from greater trade. But achieving that potential may take more than the lifting of the U.S. trade embargo with Cuba. A forthcoming study from the U.S. International Trade Commission promises a … Continue Reading
In the midst of questions about how China’s economic health will impact Africa, the foreign ministers of China and South Africa have announced that the sixth Ministerial Meeting of the Forum on China-Africa Cooperation will be upgraded to a summit. Nearly a decade after the first China-Africa Leaders summit which was held in Beijing, this … Continue Reading
According to the European Commissioner for Justice, Consumers and Gender Equality, Věra Jourová, the EU and the US have finalized the EU-US Umbrella Agreement (for the press release, see here; a reportedly near-final draft of the agreement can be read here). This is a remarkable breakthrough after the first calls for such an agreement back in … Continue Reading
Next week, Nigeria’s President Muhammadu Buhari travels to Washington for a two-day visit, which culminates in an Oval Office meeting with President Obama on July 20. Buhari is expected to travel light — not on luggage, but advisors. Since he has appointed no ministers as of yet, only a handful or two of advisors is … Continue Reading
If the U.S. Export-Import Bank (Ex-Im) is not reauthorized, U.S. efforts to deepen commercial ties to Africa will be significantly impeded. Not only would this put U.S. companies at a commercial disadvantage to companies from the European Union, China, Russia, India and elsewhere, it would impact negatively on the contribution that many American companies make … Continue Reading
