On May 28, 2020, the Commodity Futures Trading Commission (CFTC) unanimously approved an interim final rule in order to grant an extension of the compliance schedule for uncleared swaps in response to the many operational challenges entities are facing in the wake of the COVID-19 (coronavirus) pandemic. It also approved a proposed rule exempting certain … Continue Reading
On June 3, 2020, the Office of the U.S. Trade Representative released the Uniform Regulations elaborating on the rules of origin in the United States-Mexico-Canada Agreement (“USMCA”). As the USMCA is slated to enter into force on July 1, 2020, the Uniform Regulations reflect the three parties’ consensus on how the USMCA’s rules of origin … Continue Reading
It has been publicly reported that discussions are underway within the Trump Administration for a coordinated interagency initiative to remove key industrial supply chain dependencies from overseas, especially China, and redouble efforts to secure such supply chains in the United States. While this initiative proceeds alongside ongoing efforts to secure supply chains in sectors such … Continue Reading
As previously reported on this blog, on 1 April 2020 Belgium adopted a complete ban on exports of certain medicines and raw materials to non-EEA countries to avoid shortages during the COVID-19 outbreak. On 8 April 2020, Belgium reversed this ban, and instead installed a system of export controls. Coincidentally or not, the same day … Continue Reading
The German government has proposed a new draft bill reforming the current foreign direct investment (“FDI”) regime, which is likely to have a significant impact on all M&A transactions involving acquisitions of 10% or more of the voting rights in German companies active in “critical infrastructures” and “critical technologies” by any non-EU investors. Under the … Continue Reading
Tim Stratford delivered this testimony before the the U.S. House Committee on Ways and Means February 26, 2020: Chairman Neal, Ranking Member Brady, and distinguished members of this committee, thank you for the opportunity to share my assessment of the U.S.-China economic relationship following conclusion of the Phase One trade agreement between our two countries. … Continue Reading
Because labor-related obligations in existing U.S. trade agreements are general and largely hortatory, few enforcement actions have been taken with regard to these obligations. The labor obligations in the Agreement between the United States of America, the United Mexican States and Canada (“USMCA” or “Agreement”), however, are specific and likely to be enforced. In fact, … Continue Reading
On January 15, 2020, President Trump and Chinese Vice Premier Liu He signed the much-anticipated “Phase One” trade agreement between the U.S. and China. Set to take effect no later than February 14, 2020, the “Economic and Trade Agreement Between the United States of America and the People’s Republic of China” (the “Agreement”) is the … Continue Reading
A main weapon that the United States has used in the ongoing trade war with China has been import tariffs that target Chinese goods. Many U.S. companies are considering moving their supply chains out of China in the hopes that, if they are not importing goods from China, they can avoid these tariffs. In a recent article, … Continue Reading
With the recent plethora of new tariff measures aimed at imports of steel, aluminum, solar panels, aircraft, and a wide array of products from China, tariffs are affecting the bottom lines of American companies in a way not seen in decades. For importers seeking tariff mitigation options, a window of opportunity has just opened. In … Continue Reading
A long-standing dispute over the approach to country of origin determinations under the Trade Agreements Act (“TAA”) may soon be resolved, as the Federal Circuit recently heard oral argument in one of two cases presently examining key aspects of this statute. Among other questions presented, the court may decide the standard for determining whether a … Continue Reading
On October 3, 2019, the United States and United Kingdom signed an agreement on cross-border law enforcement demands for data from service providers (“Agreement”). The Agreement is the first bilateral agreement to be entered under the Clarifying Lawful Overseas Use of Data (CLOUD) Act. It obligates each Party to remove barriers in their domestic laws … Continue Reading
President Trump last Friday announced tentative agreement on the first installment of a possible multi-stage deal to end the year and a half trade war between the United States and China. “The deal I just made with China is, by far, the greatest and biggest deal ever made for our Great Patriot Farmers in the … Continue Reading
Last week’s negotiations held in Washington between Mexico and the United States were successful in suspending indefinitely president Donald Trump’s threat to impose an immediate 5% tax on all Mexican imports. These were set to go into force June 10 and escalate to 25% over time. In a series of tweets, the White House claimed … Continue Reading
The U.S. government is now considering how to define potential new export controls on “emerging technologies.” Our article in the China Business Review explains the legislative context informing the current rulemaking process, highlights key themes in public comments submitted by stakeholders in response to an initial request for input, and offers recommendations for companies and … Continue Reading
President Trump tweeted out on Sunday what sounds like good news: based upon “substantial progress“ in trade negotiations with China, he was postponing a March 2 increase from ten to twenty-five percent tariffs on some $200 billion in U.S. imports from China. The President even declared expectations of further progress and a “signing summit” at … Continue Reading
On December 1, during a working dinner meeting in Buenos Aires following the G20 Summit, U.S. President Donald J. Trump and Chinese President Xi Jinping agreed to temporarily ease trade tensions as both sides continue negotiating over longer-term solutions to U.S. concerns about bilateral economic relations. According to a White House press release, for a … Continue Reading
On September 17, the Office of the U.S. Trade Representative (USTR) released its final list of approximately $200 billion in Chinese imports subject to an additional ad valorem tariff. The final list, which covers 5,745 product categories, will take effect on September 24, 2018. The tariff rate will initially be set at 10 percent and … Continue Reading
Through a newly published foreign investment negative list, the Chinese government is offering incrementally greater market access to foreign investors in China. The 2018 Special Administrative Measures on Access to Foreign Investment (“2018 Foreign Investment Negative List” or “2018 FI Negative list”), issued by the Ministry of Commerce and the National Development and Reform Commission … Continue Reading
We are moving into uncharted waters with the Trump Administration’s announcement that the U.S. will move forward to impose $50 billion in tariffs against a wide range of Chinese products, with the first tranche of $34 billion beginning on July 6; as well as tariffs against Canadian, Mexican, European and Japanese steel and aluminum imports. … Continue Reading
John Veroneau was interviewed on “Bloomberg Daybreak: Americas.” He was discussing the U.S. announcement of a target list of Chinese goods as part of tariffs on $50 billion of Chinese imports. The video clip can be found here. … Continue Reading
While overshadowed by other remarks during the recent Group of Seven meetings, President Trump suggested that trade agreements could be “much simpler” and that they should eliminate all barriers to trade. The president’s instincts that trade agreements could be both simpler and more comprehensive are correct. Paradoxically, simpler agreements could go further than existing lengthy agreements in … Continue Reading
Transatlantic trade tensions, the Brexit negotiations, migration, and Eurozone reform will dominate the June 28 European Council. Each of these issues are potentially divisive, and the leaders know that a new dose of solidarity will be needed to address them properly. They also know that next year will see additional challenges to the cohesion and … Continue Reading
The Eleventh Circuit has issued its decision in LabMD v. FTC, a closely watched case in which LabMD challenged the Federal Trade Commission’s authority to regulate the data security practices of private companies. The Court of Appeals declined to decide that issue, instead finding that the FTC’s order requiring LabMD to implement certain data security … Continue Reading
