Tag Archives: international trade

ILN Today Post

Ransomware Attacks Are on the Rise; Are You Ready?

Ransomware attacks have increased exponentially in recent years and COVID-19’s remote work policies only contributed to how successful bad actors are in perpetrating the attacks. If your company is not currently working towards increasing cybersecurity controls, it has never been a better moment to start doing so, especially if you deal with sensitive technologies or defense industries. In addition to the obvious business challenges companies face when dealing with a ransomware attack, there are several U.S. government laws, regulations, and implementing agencies that companies must be mindful of in the aftermath of an attack.

To access the full article, click HERE.

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ILN Today Post

Customs Valuation: Are You Inadvertently Undervaluing Imported Merchandise?

This Customs Valuation Guide offers a reminder of the importance of reviewing company financial data and the risks of failing to do so.

We recommend companies review their financial data minimally on an annual basis. For some importers, an end of year review might be the most appropriate depending on the industry cycles. A comprehensive Customs compliance program is an integrated balance of internal and external resources. A new or periodic review conducted by external resources with the combined perspective of Customs, CBP criteria and Rulings, supply chain, accounting, and auditing can identify any potential concerns before a Customs inquiry or audit.

To access the guide, click HERE. 

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ILN Today Post

Where Does Your Food Come From? FDA Proposes Changes Affecting Traceability Records for Certain Foods

On September 21st, the U. S. Food and Drug Administration (FDA) announced a proposed rule change to the Food Safety Modernization Act (FSMA).[1] If adopted, this rule would bring a significant change to FSMA and new compliance requirements to food industry stakeholders.

The proposed rule, “Requirements for Additional Traceability Records for Certain Foods” or the Food Traceability Proposed Rule,[2] would put into practice the requirements established in FSMA Section 204(d) “Additional Recordkeeping Requirements for High Risk Foods.” Generally, the proposed rule would establish new traceability recordkeeping requirements for the manufacture, processing, packing, or holding of foods that the FDA designates are at high risk for potentially creating a public health risk due to foodborne illness outbreaks. These foods are listed on the “Food Traceability List” (FTL) that was released simultaneously with the proposed rule. The list includes 16 types of fruits and vegetables, fish and shellfish, nut butters, eggs, and cheeses. Read more…

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ILN Today Post

Implications of the Upcoming U.S. Presidential Election on Chinese Tariffs and Other Section 301 Tariff Updates

If you have not noticed, 2020 is a U.S. presidential election year. If you missed that fact, you may also not realize that the United States is in the midst of a years-long trade war with China. The convergence of these two circumstances has caught the attention of the business community, particularly as relates to trade policy. Read more…

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ILN Today Post

Avoid Costly Errors: The Basics (and Beyond) of ITAR and EAR Controlled Item Marking Requirements

Is your company accurately marking its import- and export-controlled items and technology? If you have not recently reviewed the controlled item marking practices of the company, or have not yet adopted a formal marking policy or procedure, now is the time to make sure the company is following applicable regulations. Read more…

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ILN Today Post

Commerce Issues Notice on “Foundational Technologies” – What You Need to Know

The long-awaited, Advanced Notice of Proposed Rulemaking (“ANPRM”) soliciting comments on the definition of, and criteria for, identifying “foundational technologies” (“the Notice”) was finally issued on August 27, 2020, by the U.S. Department of Commerce, Bureau of Industry and Security (“BIS”). The deadline to submit comments is October 26, 2020. Read more…

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ILN Today Post

CFIUS REVIEW OF CHINESE INVESTMENT IN THE UNITED STATES: THE GOOD, THE BAD, AND THE UGLY

Now more than ever Chinese investment in the United States is facing barriers stemming from the strict reviews conducted by the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”). After several high-profile cases, which our law firm has covered in previous articles and are summarized below, the general consensus is that Chinese investment will be greatly scrutinized – and in many cases completely blocked – to satisfy the U.S. government’s national security concerns. Read more…

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ILN Today Post

CFIUS AND EXPORT CONTROLS: A DETAILED ANALYSIS OF THE PROPOSED MANDATORY FILING CHANGES

Pursuant to the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”), the Committee on Foreign Investment in the United States (“CFIUS”) is authorized to review and take action to address national security concerns arising from certain investments and real estate transactions involving foreign persons. On May 21, 2020, the U.S. Department of the Treasury (“Treasury”) published a Proposed Rule that includes two important changes impacting mandatory filings.

In October 2018, Treasury published the “Pilot Program Interim Rule,” an interim rule that implemented—on a temporary basis—a pilot program which imposed a mandatory filing requirement for certain foreign investment transactions involving a U.S. business across the five types of critical technologies as defined by FIRRMA; and with a nexus to specified industries identified in the North American Industry Classification System (“NAICS”). For more details about the critical technologies pilot program, please see our previous article.

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ILN Today Post

DDTC Provides Updated COVID-19 Measures

Yesterday the Directorate of Defense Trade Controls published an update to its operations as follows:

Compliance/Registration

  • Effective March 13, 2020, a temporary suspension of the requirement in ITAR Parts 122 and 129 to renew registration as a manufacturer, exporter, and/or broker and pay a fee on an annual basis by extending ITAR registrations expiring on February 29, March 31, April 30, May 31, and June 30, 2020 for two months from the original date of expiration.
  • DDTC Compliance is now granting an additional 30 days for responses to its request-for-information letters related to voluntary and directed disclosure matters.  DDTC Compliance is also considering extensions for the submission of full voluntary disclosures on a case-by-case basis.  Extension requests should be sent via email to DTCC-CaseStatus@state.gov on company letterhead in PDF format.
  • DDTC is also pursuing a one-time temporary reduction in registration fees for certain categories of DDTC registrants.  More information on any change will be provided on DDTC’s website.
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ILN Today Post

This trade bulletin summarizes important developments affecting international trade.

USMCA Interim Implementing Instructions
COVID-19 or not the United States Mexico Canada agreement’s (USMCA) implementation date is fast approaching. The U.S. Customs and Border Protection has issued Interim Implementing Instructions to provide early guidance on the new requirements under the USMCA, including on claiming USMCA preferential treatment for goods. The Final Implementing Instructions will be released prior to the date the USMCA enters into force.

For the Interim Implementing Instructions click here. Don’t hesitate to contact us with questions.

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