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The U.S. Department of the Treasury issued new sanctions last week targeting five “sham” charities and associated individuals across Europe, North Africa and the Middle East for alleged support to Palestinian terrorist organizations, a move one former official said should remind donors to stay vigilant.
President Donald J. Trump on Friday issued an Executive Order reversing the Biden administration’s prior prohibition of Nippon Steel Corporation’s proposed acquisition of United States Steel Corporation. The order clears the way for the $14.9 billion deal to proceed, contingent upon the execution and enforcement of a binding national security agreement.
United States Trade Representative Jamieson Greer announced that the United States has formally requested that Mexico review alleged violations of labor rights at Tubos de Acero de Mexico, S.A. (TAMSA), a steel pipe manufacturer in Veracruz.
Treasury Secretary Scott Bessent repeatedly denied that tariffs are taxes in an appearance before the Senate Finance Committee Thursday, saying there is no “empirical evidence” that prices are rising because of President Trump’s tariffs.
Following high-level U.S.–China trade talks in London, Commerce Secretary Howard Lutnick announced that the United States will reverse recently imposed export controls on ethane shipments to China. The decision ends a short-lived but disruptive policy that, according to observers, revealed deep flaws in U.S. economic statecraft.
Treasury’s Office of Foreign Assets Control (OFAC) has imposed a $215,988,868 civil penalty on GVA Capital Ltd., a San Francisco-based venture capital firm, for egregious violations of U.S. sanctions targeting Russia and Ukraine, and for failing to comply with a federal subpoena.
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