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A 76-year-old Texas man has been taken into custody on charges of smuggling parts and components used in the production of unmanned aerial vehicles (UAVs), as well as other manned aircraft, from the United States to Iran.
The complaint alleges that on several occasions, authorities searched Goodarzi’s luggage and found numerous aircraft parts and components hidden within articles of clothing.
The Justice Department today announced the seizure of a Dassault Falcon 900EX aircraft owned and operated for the benefit of Nicolás Maduro Moros and persons affiliated with him in Venezuela. The aircraft was seized in the Dominican Republic and transferred to the Southern District of Florida at the request of the United States based on violations of U.S. export control and sanctions laws.
Global trade continues to face choppy waters due to rising geopolitical tensions, ongoing regional conflicts, shifting monetary policies in industrialized economies like the United States and falling export orders, according to the World Trade Organization’s trade barometer released last week.
On a more positive note is a recovery in goods trade during the third quarter of 2024 after demand for traded goods stalled in 2023 when the US Federal Reserve hiked interest rates to fight inflation, the trade barometer suggested.
Issued ahead of the WTO’s annual Public Forum – a major public relations event taking place next week – the goods trade barometer put the latest index value at 103.
The US trade deficit hit a two-year high of $78.8 billion in July on a rise in imports, the Commerce Department reported yesterday.
The deficit was up by $5.8 billion, or 7.9 percent, from the $73 billion recorded in June.
July exports were $266.6 billion, $1.3 billion more than June exports. But exports were far outpaced by July imports of $345.4 billion – a $7.1 billion increase over the previous month.
The Commerce Department should adopt a blanket “presumption of denial” posture for export license applications that would send critical technology to any entity based in China, according to Sen. Marco Rubio (R-Fla). Commerce should impose the strict controls because of the demonstrably high risk that such applications are intended to circumvent export controls, the senator said.
North American Steel and Aluminum interests had more going on this week than the White House joining the campaign to keep the Japanese out of Pittsburgh. U.S. producers of corrosion resistant steel petitioned for relief, while the International Trade Commission extended the protections for common alloy aluminum sheet from China. Up North, Ottowa imposed 25% tariffs on Chinese aluminum,
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