Assistant Secretary for Economic and Business Affairs Ramin Toloui will be leaving the Department and returning to his teaching position at Stanford University.

Many World Trade Organization members called for preserving the two-tier dispute settlement system, including the binding Appellate Body, at the first formal meeting on dispute settlement reform, said people familiar with the discussions. At the Head of Delegations meeting, the new facilitator, Ambassador Usha Dwaraka-Canabady of Mauritius, explained the process she will follow in the coming days and months.

India continues to take the position that the Investment Facilitation Agreement for Development Agreement cannot be part of the World Trade Organization’s rulebook. India reiterated its position at the General Council meeting last week, even as the United States, without joining the IFDA, supported its integration into Annex 4 of the Marrakesh Agreement, said people familiar with the development.

Several countries, including China, Indonesia, and India among others, strongly supported the African Group’s proposal on “policy space for industrial development- advancing WTO Committee work to support structural transformation and industrial development in developing countries” during the WTO’s General Council meeting last week, said people familiar with the discussions.

Former Ways and Means Committee Chairman Kevin Brady (R-TX) has joined Akin as a senior policy consultant in Washington, D.C. During his tenure in Congress, Chairman Brady served as the author and driving force in the development of the Tax Cuts & Jobs Act of 2017 (TCJA), which is set to expire at the end of 2025, as well as a key leader in the negotiation of the United States-Mexico-Canada Agreement (USMCA) to replace the North American Free Trade Agreement..

U.S. Customs and Border Protection (CBP) is renewing the Automated Commercial Environment (ACE) Export Manifest for Vessel Cargo Test, a National Customs Automation Program (NCAP) test concerning ACE export manifest capability. The ACE Export Manifest for Vessel Cargo Test is a voluntary test in which participants agree to submit export manifest data to U.S. Customs and Border Protection (CBP) electronically at least twenty-four hours prior to loading of the cargo onto the vessel in preparation for departure from the United States.

The Ninth annual Nordic-Baltic + U.S. Cyber Consultation (NB8 + U.S.) met in Tallinn, Estonia on May 28. U.S. Deputy Assistant Secretary of State for International Cyberspace Security Liesyl Franz led the U.S. delegation and advocated the United States’ International Cyberspace and Digital Policy Strategy.

The Department of State is publicly designating five current and former Ugandan officials for their involvement in significant corruption or gross violations of human rights. Included in the action are the Speaker of Parliament, Former Minister of Karamoja Affairs, former Minister of State for Karamoja Affairs, and the Minister of State for Finance. Additionally, the former Deputy Chief of the Ugandan Peoples’ Defence Forces is designated due to his involvement in gross violations of human rights

Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two companies that are linked to the Private Military Company “Wagner” (Wagner Group). Mining Industries SARLU and Logistique Economique Etrangere SARLU are being designated pursuant to Executive Order (E.O.) 14024 for enabling Wagner Group security operations and Wagner Group-linked illicit mining endeavors in the Central African Republic (CAR).

The US Treasury is targeting four entities associated with OFAC-designated Rayan Roshd Afzar Company (RRA) that have procured critical parts for Iran’s unmanned aerial vehicle (UAV) program. Additionally, OFAC is targeting an Iranian executive of Iran Aviation Industries Organization (IAIO), a subsidiary of Iran’s Ministry of Defense and Armed Forces Logistics that oversees UAV manufacturers Iran Aircraft Manufacturing Industrial Company and Qods Aviation Industries.

U.S. Secretary of Commerce Gina Raimondo will travel to Singapore from June 3 to June 6 to participate in the Indo-Pacific Economic Framework for Prosperity (IPEF)’s Ministerial meeting. USTR Chief Agricultural Negotiator Doug McKalip will accompany Ms. Raimondo.

A senior Treasury Department official called for European allies to line up in applying pressure to Beijing to cease supporting the Kremlin's war efforts.     Citing the Russian econmy's "war footing," Deputy Secretary of the Treasury Wally Adeyemo said "this war is not just an existential threat to Ukraine, but to Europe and our national security."

U.S. Customs and Border Protection (CBP) announced a process that will allow authorized individuals to access business confidential information in Enforce and Protect Act (EAPA) administrative proceedings, increasing transparency in investigations.    The Administrative Protective Order process will allow eligible parties to apply to receive access to business confidential information contained in the administrative record for cases in which they are subject to the investigation.

Twelve GOP lawmakers sent a letter to U.S. Treasury Secretary Janet Yellen calling on the Office of Foreign Assets Control and Financial Crimes Enforcement Network to investigate six People's Republic of China (PRC) companies, including two of the largest oil companies in the PRC. .The apparent intent is to discourage US investors from owning shares in the firms, several of which are included in East Asian Stock Indexes.

April's announced "enhanced" enforcement of small package imports threatens to bring certain e-commerce activities to a standstill. US Customs and Border Protection (CBP) is reportedly inspecting every single ecommerce shipment coming from mainland China by air freight.

A New Jersey-based airline exceutive pled guilty to participating in a money laundering conspiracy involving proceeds of heathcare fraud channeled through his employer's bank account.

China has announced export controls on certain equipment, software and technologies in key sectors ranging from aerospace to shipbuilding that matter to national security. Under the new policy, the controlled export products involve equipment and software in key industries, including aerospace structural components and engine manufacturing, gas turbine engine manufacturing, aerospace surface window-related equipment, and ultra-high molecular weight polyethylene fiber-related items, according to the notice.

The Council adopted May 30 a package of new anti-money-laundering rules that will protect EU citizens and the EU's financial system against money laundering and the financing of terrorism. With the new package, all rules applying to the private sector will be transferred to a new directly applicable regulation, while a directive will deal with the organisation of national competent authorities fighting against money laundering and countering the financing of terrorism (AML/CFT).

An indictment was unsealed in the Central District of California May 16 charging two Chinese nationals alleging they played leading roles in a scheme to launder proceeds from cryptocurrency investment scams. According to court documents, the conspirators allegedly managed an international syndicate that laundered proceeds of cryptocurrency investment scams, which are also known as “pig butchering.”

Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals for their activities associated with the malicious botnet tied to the residential proxy service known as 911 S5. …

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