Upcoming Changes in U.S. Export Controls on Advanced Semiconductors & Related Tooling and Recent Development on U.S. Relief Given to Asian Chips Manufacturers 

The landscape of U.S. export controls on advanced semiconductors and related toolings is evolving, with anticipated changes potentially impacting the business operations of companies throughout the global supply chain for products driven by advanced semiconductors and the development of similarly supported technologies. 

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TRADE ALERT:  New U.S. Action Against Extruded Aluminum Imports

Today, October 4, 2023, the U.S. Aluminum Extruders Coalition and the United Steelworkers (USW) union filed antidumping (AD) and countervailing duty (CVD) petitions against extruded aluminum imports claimed to be (a) dumped – i.e., sold into the United States at  less than fair normal value prices and (b) government subsidized. The AD petitions cover China, Colombia, the Dominican Republic, Ecuador, India, Indonesia, Italy, Malaysia, Mexico, South Korea, Taiwan, Thailand, Turkey, the United Arab Emirates, and Vietnam.  The CVD petitions cover China Indonesia, Mexico and Turkey.  See https://ids.usitc.gov/case/8145/investigation/8464 for the petitions.

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TRADE ALERT: New U.S. Action Against Aluminum Lithographic Printing Plates From China and Japan

On September 28, 2023, Eastman Kodak filed antidumping (AD) and countervailing duty (CVD) petitions against aluminum lithographic printing plates from China claimed to be (a) dumped – i.e., sold into the United States at less than fair normal value prices and (b) government subsidized; and just an antidumping petition against Japan.  Petition available at https://ids.usitc.gov/case/8144/investigation/8462.

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Squire Patton Boggs Submits Comments on Proposed U.S. Outbound Investment Restrictions and Notification Requirements Mandated by Executive Order

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Pending CFIUS Filing: Renesas Electronics Corporation and Sequans Communications S.A.

Status:                  Pending Filing

Acquirer:              Renesas Electronics Corporation (Japan)

Acquired:             Sequans Communications S.A. (France)

Value:                   $249 million

Industry Tags:    Semiconductors; Integrated Circuits; Telecommunications; Internet of Things

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Vietnam Seeks Market Economy Status For Antidumping

On September 8, 2023, the Government of Vietnam requested that the United States treat Vietnam as a Market Economy (ME) for antidumping (AD) law purposes versus the current Non-Market Economy (NME) status (attached). ME status generally means lower and more manageable/predictable (AD) dumping margins, so it is preferred for AD purposes.  Western press (e.g., Financial Times) have indicated of late that Vietnam has moved to being a ME.  President Biden visited Vietnam to seek closer relations with Vietnam including trade deals.  We will see what happens.  But this could be good for Vietnam if done. 

Notably, in a joint statement (attached) between President Biden and his Vietnam counterpart,

“The United States noted Vietnam officially requested the review of its market economy status on September 8, 2023.  The United States will review Vietnam’s request as expeditiously as possible, in accordance with U.S. law. The United States appreciates Vietnam’s ongoing efforts to further modernize and enhance the transparency of its monetary policy and exchange rate management framework, to promote macroeconomic stability, and to ensure the safety and soundness of the banking system.”

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CFIUS Clearance: Ørsted A/S and Uncommitted lease area for wind development from Eversource Energy

Status:                  Clearance

Acquirer:              Ørsted A/S (Denmark)

Acquired:             Uncommitted lease area for wind development from Eversource Energy (U.S.)

Value:                    $625 million

Industry Tags:    Energy

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Upcoming/New Filing: Mars Acquisition Corp. and ScanTech Identification Beam Systems, LLC

Status:                   Upcoming/New Filing

Acquirer:               Mars Acquisition Corp. (Cayman Islands)

Acquired:              ScanTech Identification Beam Systems, LLC (U.S.)

Value:                   $149.5 million

Industry Tags:       Logistics; Security Solutions

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CFIUS Upcoming/New Filing: Enbridge Inc. and Dominion Energy

Status:                  Upcoming/New Filing

Acquirer:              Enbridge Inc. (Canada)

Acquired:             Three gas utility businesses of Dominion Energy (U.S.)

Value:                    $14 billion

Industry Tags:    Regulated Utilities; Energy; Oil & Gas

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CFIUS Investigation: Sina Corporation and TuSimple Holdings Inc.

Status:  Mitigation; Clearance

Digital Car

Acquirer:  Sina Corporation (China)

Revised Acquirer:  TuSimple (Cayman) Limited (Cayman Islands)

Acquired:   TuSimple Holdings Inc. (US)

Value:  Unknown

Industry:  Autonomous Vehicles

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