Tag Archives: international trade

ILN Today Post

Corporate Governance Reliefs announced in view of COVID-19

The Union Finance & Corporate Affairs Minister, Government of India, Ms. Niramla Sitharaman, in her interactions with the press yesterday, i.e., on March 24, 2020, has announced multiple relaxations to statutory and regulatory compliances under various legislations viz., the Companies Act, 2013 (“CA2013”), Limited Liability Partnership Act, 2008 (“LLP Act”), Insolvency and Bankruptcy Code, 2016 (“IBC”), Income Tax Act, 1961, the Goods and Services Tax legislations, Customs Act, 1962 etc. The complete press release vis-à-vis all measures announced can be accessed at http://pib.nic.in/newsite/PrintRelease.aspx?relid=200639.

Read full article
ILN Today Post

Highlights of Finance Minister’s Press Conference: Reliefs during COVID-19 outbreak

In the midst of the shutdown of businesses all over India to contain the spread of the highly contagious Covid-19 infection, Finance Minister Smt. Nirmala Sitharaman today addressed a press conference on various statutory and regulatory compliance issues and announced a slew of measures for providing relief amid the pandemic outbreak.

The brief highlights of the announcements made by the Finance Minister:

Read full article
ILN Today Post

DDTC and Census COVID-19 Status of Operations

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

  1. Licensing, Commodity Jurisdictions, and General Correspondence: Though longer processing times are expected, DDTC continues to process these submissions and new licenses will be accepted.
  2. Enrollment and Registration: Still operating and being processed via DECCS.
  3. Voluntary Disclosures: Disclosures and related information may be submitted via email to DTCC-CaseStatus@state.gov. Materials should be sent on company letterhead and in PDF format. It is not necessary to send a duplicate hardcopy to DTCC through the mail.

Read more…

Read full article
ILN Today Post

CONTROL AND IMMIGRATION AND ANTI-DISCRIMINATION LAWS

The intersection of immigration, anti-discrimination, and U.S. export control laws can be confusing for employers. But recent settlement agreements between the U.S. Department of Justice (“DOJ”), and multinational corporations and large international law firms demonstrate that the DOJ will not tolerate employers discriminating against non-U.S. persons. This article will provide an overview of the intersection, and friction between, U.S. immigration, anti-discrimination, and export control laws and regulations. Read more…

Read full article
ILN Today Post

New Interim Final Rule Creates End-to-End Encryption Carve-Out for ITAR Technical Data

The Department of State Directorate of Defense Trade Controls has published an interim final rule  seeking public comments and clarifying that certain transfers of encrypted technical data are not exports, reexports, or retransfers subject to the International Traffic in Arms Regulations. For the full article, please click HERE.

Torres Law previously published a news alert on November 18, 2019 regarding the potential publication of a new rule. The Interim Final Rule is effective on March 25, 2020, and interested parties may submit public comments by January 27, 2020.

Read full article
ILN Today Post

Tariffs on Wine, Whisky, and Cheese Provide Extra Fright This Halloween

Halloween parties are an annual tradition for many Americans. But this year Halloween may be a little spookier than usual as some popular party items could become more expensive.

On Friday, October 18, new 25% tariffs went into effect on many food and drink imports from the European Union (“EU”). These tariffs were first proposed by the United States Trade Representative (“USTR”) back in April as part of an ongoing World Trade Organization (“WTO”) dispute surrounding civil aircraft subsidies granted by the EU.[1] This month, the WTO finally ruled on the matter, siding in favor of the United States over the EU. As a result, the United States has placed $7.5 million worth of tariffs on European goods.[2]

Read full article
ILN Today Post

Turkey Sanctions Update

On October 23, 2019, the Department of Treasury Office of Foreign Assets Control (OFAC) removed the sanctions imposed in Executive Order (E.O.) 13894 on the Government of Turkey’s Ministry of National Defence and the Ministry of Energy and Natural Resources, as well as the Minister of National Defence, Minister of Energy and Natural Resources, and the Minister of the Interior. OFAC stated that the removal of the sanctions was a direct result of Turkey’s adherence to the terms of a ceasefire in Syria as agreed on October 17, 2019. Pursuant to the removal of the sanctions, all property and interests in property, which had been blocked as a result of the designation of the five persons listed above, are unblocked and all otherwise lawful transactions involving U.S. persons and these entities and individuals are no longer prohibited. 

Read full article
ILN Today Post

Lessons from the L3Harris Technologies Consent Agreement with DDTC

On September 19, 2019, the U.S. Directorate of Defense Trade Controls (“DDTC”) entered into a consent agreement with L3Harris Technologies, Inc. (“L3Harris”) for alleged violations of the Arms Export Control Act (“AECA”) and the International Traffic in Arms Regulations (“ITAR”). L3Harris, an aerospace and defense technology company, allegedly committed violations that involved the unauthorized export of defense articles and technical data, as well as a failure to provide accurate and complete reporting and violations of licenses.[1]

The L3Harris consent agreement with DDTC provides five valuable takeaways for all defense exporters:

Read full article
ILN Today Post

InsightsCBP Announces New Rule to Combat Anti-Dumping and Countervailing Duty Infractions

On August 14, 2019, the U.S. Customs and Border Patrol (“CBP”) issued a notice of proposed rulemaking requiring customs brokers to verify the identity of their importer clients, in particular non-resident importers.[1]

CBP stated that the purpose of the rule is to strengthen the agency’s ability to prevent fraudulent transactions, improve revenue protection, and help prevent the use of shell or shelf companies attempting to evade customs laws, in particular as relates to intellectual property rights, anti-dumping / countervailing duties, and health and safety requirements. CBP also asserted that creating more rigorous standards for importer verification will improve the competitiveness of brokers that comply with customs regulations. 

Read full article
ILN Today Post

State Department Proposes New Guidelines for the Export of Surveillance Technology Aimed at Addressing Human Rights Concerns

Should human rights concerns be a consideration for exporters engaged in international trade? New draft guidance proposed by the U.S. Department of State aims to provide a potential roadmap for tackling this issue.

On September 4, 2019, the State Department’s Internet Freedom and Business & Human Rights Section of the Bureau of Democracy, Human Rights, and Labor released draft guidance for “Surveillance Technology” exports.[1] If adopted, this guidance could add another layer to the export control process.

Read full article