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The Office of the U.S. Trade Representative said Thursday it has reached an agreement with Colombia aimed at strengthening the two countries' defenses against investor-state claims in an underlying trade pact,
U.S. Trade Representative Katherine Tai met with Minister Luis Carlos Reyes of Colombia’s Ministry of Trade, Industry, and Tourism to announce a mutual agreement on a Free Trade Commission (FTC) decision under the United States-Colombia Trade Promotion Agreement (TPA). The decision provides an official interpretation of the TPA’s investment chapter provisions.
The Department of Commerce’s Bureau of Industry and Security and the Treasury’s Office of Foreign Assets Control imposed approximately $2.5 million in combined civil penalties against a California machine tool builder for permitting authorized distributors to sell equipment and repair parts to sanctioned entities in China and Russia,
“Today’s coordinated resolution with OFAC demonstrates our resolve to hold accountable companies that do not put in place effective compliance programs to prevent exports to Entity Listed companies,” said Acting Assistant Secretary for Export Enforcement Kevin J. Kurland.
The Department of State amends the International Traffic in Arms Regulations (ITAR) to remove from the U.S. Munitions List (USML) items that no longer warrant inclusion, add to the USML items that warrant inclusion, and clarify certain entries.
With these amendments, the Department also supersedes and thus terminates the temporary modification to USML Category VIII that was published on December 4, 2023, and extended on November 26, 2024.
CBP proposes to make merchandise that is subject to specified trade or national security actions (Section 301, Section 232, or Section 201 trade measures) ineligible for the $800 de minimis administrative exemption.
They propose to require that certain shipments claiming this exemption provide the 10-digit Harmonized Tariff Schedule of the United States (HTSUS) classification of the merchandise.
Legislation to prohibit companies affiliated with the Chinese Communist Party from qualifying for green energy production tax credits implemented by the Biden administration through the Inflation Reduction Act has been reintroduced in the 119th Congress.
If signed into law, the bill would prevent any company based in China, Russia, Iran or North Korea, and the subsidiaries of those companies from benefiting from these tax credits.
Miami real estate broker Roman Sinyavsky pleaded guilty today to engaging in a scheme to violate U.S. sanctions and commit money laundering by conducting transactions involving blocked properties owned by sanctioned Russian oligarchs Viktor Perevalov and Valeri Abramov.
The properties, valued approximately $1.8 million were forfeited earlier this month. In a separate settlement, Sinyavsky and his company have agreed to pay a civil penalty of approximately $1,076,923.
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