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Monday Feb 10, President Trump issued an executive order halting the initiation of new Foreign Corrupt Practices Act (FCPA) investigations and mandating a review of ongoing enforcement actions.
The order comes in the wake of several high-profile corporate settlements under the statute, underscoring the administration’s concerns that current enforcement of the 47 year old Law is detrimental to U.S. economic competitiveness and national security.
A Kyrgyz national and international arms dealer has been charged in a federal indictment with conspiracy and illegal smuggling of firearms from the United States to Russia. Sergei Zharnovnikov was arrested on January 24 in Las Vegas, while attending the Shooting, Hunting, and Outdoor Trade (SHOT) Show.
Zharnovnikov is accused of orchestrating a complex scheme to circumvent U.S. export controls by funneling semi-automatic rifle-pistols through his Kyrgyz company to Russia. The indictment details his illegal procurement of firearms from a U.S.-based company in Chesapeake, Virginia, and subsequent exportation, in violation of U.S. export laws.
On January 20, 2025, President Trump issued Executive Order (E.O.) 14157, "Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists."
Such designations will increase the penalties and other consequences for companies and individuals providing "material support" to the designated entities. This development will impact the legal and compliance risks companies face when doing business in Mexico, Central America, and other parts of Latin America where cartels are active.
The difference of an FTO designation is that it now implicates companies and individuals with new and specific criminal law provisions for material support of the designated entities that do not currently exist under an SDN designation. One should expect to see more criminal prosecutions in the U.S. against non-U.S. companies and individuals.
What are we to make of the chaos being promulgated by the Trump White House as it settles in to governing? Check back tomorrow; we'll have a new answer.
From eliminating Valentine's Day roses, guacamole for the Super Bowl, the North American automotive industry, and America's compulsion for flimsy fast fashion, the Administration's "flood the zone" policy prescription has generated much heat and chatter, only to be walked back by weekend.
Friday President Trump continued the drumbeat, promising more tariff announcements to come “I’ll be announcing that next week. Reciprocal trade so that we’re treated evenly with other countries. We don’t want any more or any less,”
Japan’s Nippon Steel and the US Steel Corporation are continuing the fight against the Biden Administration’s decision to block their proposed $14.9 billion merger. The two companies filed their opening brief with the US Court of Appeals for the District of Colombia Circuit arguing that President Biden halted the merger for political reason and not because of a national security threat.
The two companies said in a statement that the merger “will enhance, not threaten, United States’ national security, protect US Steel workers, revitalize jobs in communities that rely on American steel and make American Steel bigger and better.
Sens. Elizabeth Warren (D-Mass) and Josh Hawley (R-Mo) are calling on the Commerce Department to beef up export controls on China.
In a letter to Commerce Secretary nominee Howard Lutnick, the two members of the Banking Committee said the Administration needs to strengthen export controls and close regulatory loopholes that are undercutting US technology leadership against challenges from China.
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