On December 14, 2021, lawmakers in the House and Senate announced that they had reached an agreement on compromise language for a bill known as the Uyghur Forced Labor Prevention Act or “UFLPA.” Different versions of this measure passed the House and the Senate earlier this year, but lawmakers and Congressional staff have been working to reconcile … Continue Reading
The Foreign Investment Risk Review Modernization Act of 2017 (S. 2098/H.R. 4311, FIRRMA for short) was introduced in Congress to reform the national security review of foreign acquisitions of US businesses by the Committee on Foreign Investment in the United States (CFIUS or the Committee). However, FIRRMA extends well beyond this purpose of reviewing acquisitions … Continue Reading
On 21 November, the UK government published the Taxation (Cross-border Trade) Bill, the stated aim of which is to “allow the UK to set and collect its own duty on goods coming into the country and will allow the government to implement different outcomes of the EU negotiations, including an implementation period”. The government announcement … Continue Reading
On 7 November, the UK government published the Trade Bill, having introduced it to Parliament for its First Reading. Together with the Customs Bill, it is designed to give the UK the powers necessary to bring existing EU trade agreements into UK statute. The bill also establishes a new independent body called the Trade Remedies … Continue Reading
On 7 November 2017, the UK Government published the Trade Bill, having introduced it to Parliament for its First Reading. Together with the Customs Bill, it is designed to give the UK the powers necessary to bring existing EU trade agreements into UK statute so that when the UK officially withdraws from the EU, businesses … Continue Reading
On March 14, 2017, U.S. Senators Chuck Grassley (R-IA) and Debbie Stabenow (D-MI) introduced new legislation to “give top U.S. agriculture and food officials permanent representation on the Committee on Foreign Investment in the United States (CFIUS).” (Senator Grassley Press Release, Grassley, Stabenow Introduce Bipartisan Legislation to Protect American Agricultural Interests in Foreign Acquisitions, Mar. … Continue Reading
North Korea – Money Laundering Designation. Last week, the U.S. Department of the Treasury designated North Korea as a jurisdiction of “primary money-laundering concern” under Section 311 of the USA Patriot Act on Wednesday. This will allows Washington to further limit North Korea’s access to the U.S. financial system. Under the new designation, non-U.S. banks … Continue Reading
