Hot Topics in International Trade – June 2022 | Braumiller Law Group, PLLC
US initiates Indo-Pacific Economic Framework in South Pacific
By: Adrienne Braumiller, Partner and Founder of Braumiller Law Group, and Harold Jackson, Associate Attorney
On May 23, the Indo-Pacific Economic Framework for Prosperity (“IPEF”) was launched in Tokyo, Japan, the US and other countries in the Pacific region. The countries included are Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam. The White House Expectations These countries account for 40% of the world’s gross domestic product (GDP) and that the Indo-Pacific region supports more than 3 million American jobs and is the source of an estimated $900 billion in foreign direct investment in the United States
U.S. Customs and Border Protection (“CBP”) released its first set of guidance related to the Uyghur Law for the Prevention of Forced Labor (“UFLPA”), which is scheduled to become effective on June 21, 2022. The CBP Guidelines are in the form of a website that is a home page for UFLPA-related guidelines, FAQs, webinars, graphics, and CBP contact information. This important UFLPA home page can be accessed at: www.cbp.gov/trade/forced-labor/UFLPA.
Many importers eagerly await the four-year Section 301 review of Chinese tariffs required by the United States Trade Representative (“USTR”). Section 301 of the Trade Act of 1974 gives the Office of the USTR a number of responsibilities and powers to investigate and Take action to enforce US rights under trade agreements and to respond to certain foreign trade practices. In 2017, the USTR launched a Section 301 investigation to determine whether China’s technology transfer, intellectual property and innovation policies are chargeable under US trade law. Since the initial investigation and based on the investigation results, the USTR has levied Section 301 duties (between 7.5% and 25%) on four different schedules:
In a recent article (https://www.braumillerlaw.com/executive-order-digital-assets-start-responsible-regulation/), I have provided a snapshot of the many reports requested by the Implementing regulation to ensure responsible development of digital assets issued March 9, 2022. A key objective of this federal government effort is to assess and analyze the digital asset sector to determine whether it is advisable to develop a central bank digital currency (CBDC). This article provides an overview of the issues surrounding CBDCs in a Q&A format to provide a lens for analysis of the many government reports due in September, October and through the end of this year.
Here we are, as of the writing of this article, more than four months after the Russian invasion of Ukraine, with no end in sight. I personally claim to be appalled that this, the murder of innocent civilians and the destruction of another country’s infrastructure, can be allowed to happen while we watch on the sidelines as if it were just another simple documentary about another war . Yes, many nations like the US provide humanitarian aid and arms, but I find the limits we have placed on military involvement just because Ukraine is not a NATO country ridiculous.
Primer to comply with applicable export regulations
By Harold Jackson (Associate Attorney), Braumiller Law Group
When most people think of exports, they picture the movement of goods across international borders. However, an export can be done without having to leave the United States, e.g. B. in your office break room, storing unencrypted information in the cloud or even sharing your screen on a video call. A “supposed” export occurs when certain types of information are disclosed to a foreign person. This introduction attempts to describe the introductory concepts of assumed export enforcement in the United States, which considers the rules enforced by the Bureau of Industry and Security (“BIS”) under the Export Administration Regulations (“EAR”), as well as the rules enforced by the Directorate of Defense Trade Controls (“DDTC”) under the International Traffic in Arms Regulations (“ITAR”).
Rapid growth, which usually bodes well for companies, has potential downsides, as Toll Holdings’ cautionary tale demonstrates.
The Office of Foreign Asset Controls (OFAC) fined Toll Holdings (“Toll”), a 134-year-old freight and logistics company based in Melbourne, Australia, over $6.13 million for nearly 3,000 self-disclosed Violations of the US sanctions policy. OFAC said the breaches were due to a “rapid” expansion “without a required increase in compliance resources.” Think about this statement. As organizations grow rapidly, it’s not uncommon to find compliance and other essential services lagging behind as the organization realigns its core support structures.