Determinedly beating the drum for steelworker votes and economic populism, two of the leading Senate opponents of the purchase of US Steel by a Japanese rival drew attention to the executive compensation of the Pittsburgh steelmaker. Elizabeth Warren (D-Mass) sent a letter to US Steel CEO David Burritt outlining their concerns. with plans for the firm's current and former top executives to receive payments totaling over $156 million – not including $40.8 million in payments to non-employee board members.
Developing and developed members applauded the EU decision to postpone the implementation of its new Regulation on Deforestation-Free Products (EUDR) for twelve months. This regulation, which was set to take effect on 30 December 2024, will require a variety of agricultural products sold in the EU market to be "deforestation-free," meaning they must not result from recent (post-31 December 2020) deforestation, forest degradation, or breaches of local environmental and social laws.
The Financial Crimes Enforcement Network (FinCEN) has updated some of its Beneficial Ownership Information Frequently Asked Questions and issued several additional ones. The topics covered are: …
House Republican national security leadership called for the White House to expand license-free defense trade among the U.S., U.K., and Australia to ensure the success of AUKUS Pillar Two and …
Litigants in London lined up this week as the High Court considers insurance claims on the more nearly 500 western-built commercial aircraft stranded in Russia since February 2022. Insurers, including AIG and Lloyd's of London contend the stranded fleet is not a total loss, and the aircraft may be recovered. Claimants, including leasing giant AerCap are reportedly seeking up to $3 billion from insurers.
The Justice Department Friday unsealed an indictment charging three Iranian nationals with a conspiracy to hack into accounts of current and former U.S. officials, members of the media, nongovernmental organizations, and individuals associated with U.S. political campaigns.
On 25 September 2024, the EU and US held an in-depth technical discussion with transatlantic social partner stakeholders under the Trade and Labour Dialogue (TALD), focused on ways to eradicate forced labour from supply chains and ensure a successful, just and inclusive green transition.
House Republicans spent their waning days in Washington before heading home to campaign promoting initiatives targeting economic cooperation with the Chinese. Proposals include setting up a specialized trade prosecution task force in the Department of Justice, penalizing investment in the China, revoking Permanent Normal Trade Relations with Beijing, and singling out two display makers as Chinese military companies.
The deportation of millions of people from the United States, steeper tariffs, and the erosion of the Federal Reserve’s political independence may make, for some, compelling political speechery, but the economic consequences are daunting, according to a study released Thursday by the nonpartisian Peterson Institute for International Economics. Other observers more definitively on the right have tried to apply real-world budget analysis to the tariff plans of Candidate Trump, with equally disheartening findings.
The Chairs of the House China and Education Committees raised concerns that decades of federally funded research has benefited the defense and security establishments of the PRC.
Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued another resource to familiarize small business owners with beneficial ownership reporting requirements. This law requires many small businesses to report basic information to the Federal government about the real people who ultimately own or control them.
A senate subcommittee released a majority staff report detailing its inquiry into the prevalence of American-manufactured microchips in Russian weapons systems. "Our findings reveal a distinct disinterest in evaluating and improving corporate compliance practices and particularly, monitoring those distributors, the middlemen, the ones who may actually make the sales to companies that sell to Russia." said the Committee Chair in his opening remarks.
The U.S. Government Accountability Office (GAO) report highlights the substantial investments China is making through the world’s largest infrastructure finance program, the Belt and Road Initiative (BRI). Contributors to the report identified challenges to US competitiveness includeing the "lack of a public national strategy to guide and prioritize" U.S. efforts and the "fragmentation of foreign assistance efforts" across several federal agencies.
Majority staff from the Homeland Security and Select China Committees released a report recapping their efforts to draw attention to the role of Chinese suppliers in U.S. Port Security. China's Shanghai Zhenhua Heavy Industry Co., Ltd. (ZPMC), the world’s largest STS crane manufacturer is an entity of particular focus of the report. Producing nearly 80% of the STS cranes used at U.S. ports ZPMC commands 70% of the global market share.
Additionally, OFAC put on public inspection Interim Final Rule to Extend Recordkeeping Requirements from Five to 10 Years, consistent with the extension of the statute of limitations for violations of certain sanctions administered by OFAC. OFAC also put on public inspection a Comment Request for Reporting, Procedures and Penalties Regulations and Other Information Collections Maintained by OFAC for comments concerning OFAC's information requirements.
The Georgia Institute of Technology announced it is shuttering its Shenzhen campus and closing a chapter of educational cooperation in the “China’s Silicon Valley” dating back to 1984. To date, Tianjin University remains on the Entity List, making Georgia Tech’s participation with Tianjin University, and subsequently GTSI, no longer tenable" the Iniversity said in a statement.
BIS released a Notice of Proposed Rulemaking outlining a new mandatory reporting requirement for the world’s leading AI developers and cloud providers. The proposed rule requires developers of the most powerful AI models and computing clusters to provide detailed reporting to the federal government. This includes reporting about developmental activities, cybersecurity measures, and outcomes from red-teaming efforts, which involve testing for dangerous capabilities like the ability to assist in cyberattacks or lower the barriers to entry for non-experts to develop chemical, biological, radiological, or nuclear weapons.
Evidently the "strong concerns with Canada’s unilateral digital service tax" the USTR cited in the readout of last weeks meeting between Ambassador Katherine Tai and Minister of Export Promotion, International Trade, and Economic Development, Mary Ng. Involved a preview of a USMCA dispute settlement complaint. Friday Tai announced that the United States has requested dispute settlement consultations with Canada under the United States-Mexico-Canada Agreement (USMCA) regarding Canada’s recently enacted digital service tax (DST).
Treasury’s Financial Crimes Enforcement Network (FinCEN) issued two rules to help safeguard the residential real estate and investment adviser sectors from illicit finance. The investment adviser rule is slated to go into effect in January 2026. Its residential real-estate rule is scheduled to begin in December 2025.
Congressional China hawks have called for U.S. Department of Defense to immediately place Contemporary Amperex Technology Limited (CATL) on the Section 1260H List, which provides transparency on Chinese military companies operating in the United States. Chairman John Moolenaar (R-MI) of the House Select Committee on the Chinese Communist Party and Sen. Marco Rubio (R-FL) sent a letter to Defense Secretary Lloyd Austin urging the move, stating "By including CATL on the Section 1260H List, the DoD would not only safeguard America’s military infrastructure from exposure to the PLA, it would also send a powerful signal to U.S. companies who are currently weighing partnerships with CATL.”