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The US Export-Import Bank signed two new Memoranda of Understanding yesterday, one with Nigeria and the other with Mastercard.
The Nigerian MOU is "to encourage collaboration and identify projects that enhance economic prosperity between Nigeria and the United States,"according to EXIM. The Mastercard MoU is "to encourage collaboration opportunities in support of small businesses."
Thursday, The Commerce Department announced its preliminarily determination that aluminum extrusion producers and exporters in in fourteen countries are selling their product in the US at less than fair value.
In 2022, the U.S. imported 57 million tons of aluminum extrusions worth about US$3.19 billion from 15 countries, according to U.S. Department of Commerce statistics. The United States imported 110,000 tons worth US$660 million from Mexico, the largest exporter of aluminum extrusions to the United States.
Despite repeated requests to increase the World Trade Organization’s budget during 2022 and 2023, Director-General Ngozi Okonjo-Iweala says that “the organization will have a budgetary surplus of CHF 4.8 million (close to USD 5 million)”, an increase that prompted her to seek “stepping up our recruitment to hire the very best staff.”
The DG has embarked on reforming the Secretariat based on a McKinsey and Company report. The reform process generated considerable controversy in the organization, said several people familiar with the reform-related developments.
Responding to reports the company has secretly funded research at US universities through an independent foundation, new chairman of the House Select Committee on China Rep. John Moolenaar (R-Mich) is taking aim at Chinese telecoms giant Huawei.
The research funding is a way for China to steal US innovations, the chairman said. The Administration should suspend all export licenses to Huawei and consider other steps such as placing the company on the Specifically Designated National list, he stated.
The Justice Depaertment's Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) will be submitting for review and approval revisions to the form filed for approval to permanently export NFA firearms registered in the National Firearms Registration and Transfer Record
The Energy Department has published their interpretation of the statutory definition of “foreign entity of concern” (FEOC) in the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law (BIL), which applies to multiple programs related to the battery supply chain.
In this final interpretive rule, DOE responds to public comments, clarifying the term “foreign entity of concern” by providing interpretations of the following key terms: “government of a foreign country;” “foreign entity;” “subject to the jurisdiction;” and “owned by, controlled by, or subject to the direction.”
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