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Treasury’s Office of Foreign Assets Control (OFAC) has designated six entities and six individuals in Iran and the People’s Republic of China (PRC) for operating a procurement network that facilitates the supply of ballistic missile propellant ingredients to Iran’s Islamic Revolutionary Guard Corps (IRGC).
The network has been involved in the procurement and shipment of sodium perchlorate and dioctyl sebacate from the PRC to Iran. Sodium perchlorate is a precursor to ammonium perchlorate, a material controlled under the Missile Technology Control Regime (MTCR) and integral to the manufacture of solid propellant rocket motors. Dioctyl sebacate similarly supports the production of ballistic missile technology.
Deputy Secretary of the Treasury Michael Faulkender emphasized the Trump Administration’s commitment to balancing foreign investment with national security at the American Conference Institute’s CFIUS Conference Thursday April 24, , detailing the Administration’s initiatives under the newly issued “America First Investment Policy.”
The International Monetary Fund (IMF) on Tuesday slashed its global growth forecast for 2025 to 2.8%, down from 3.3% in January, citing a sharp rise in tariffs and growing policy uncertainty. The United States faces one of the steepest revisions, with growth now projected at 1.8%, compared to a previous estimate of 2.7%.
U.S. Treasury Secretary Scott Bessent told investors at a closed-door JPMorgan Chase summit Tuesday that the ongoing trade conflict between the United States and China is “unsustainable,” and indicated that both sides would need to find ways to de-escalate. In a speech the next day Bessent called for a "recentering" of the missions of the IMF and World Bank.
US Customs & Border Protection has published an FAQ page on the International Emergency Economic Powers Act (IEEPA) as it relates to tariffs.
April has seen enforcement actions on Chinese work gloves, South Korean Sea Salt, and most recently a petition based on evidence of modern slavery in the Brazilian coffee industry.
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