The Bureau of Industry and Security is rolling back a Biden-era interim final rule that increased restrictions on firearms exports, the agency said in a final rule effective Sept. 30. BIS said it decided that the rule should be “rescinded in its entirety” after hearing from U.S. firearms manufacturers that the controls “would cost them hundreds of millions of dollars per year in lost sales.”
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Exporters shouldn't expect a grace period from enforcement under the Bureau of Industry and Security's new 50% rule, but the agency likely is first looking for intentional violators as opposed to exporters who made good-faith efforts to comply, industry lawyers and advisers said in interviews.
Applied Materials, the largest American semiconductor equipment supplier, is projecting hundreds of millions of dollars in losses to its China-related revenue because of the Bureau of Industry and Security's new Affiliates Rule.
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Former Biden Administration Sanctions Official Joins Law Firm
Brian Nelson, one of the Treasury Department's top sanctions officials during the administration of Joe Biden, has joined Cooley to lead its national security practice, the law firm announced last week. Nelson previously served as Treasury's undersecretary for terrorism and financial intelligence, where he oversaw the Office of Foreign Assets Control and the Financial Crimes Enforcement Network. Nelson will work on issues related to sanctions, export controls, national security investigations and more, the firm said.
Former US Defense Trade Analyst Joins Boeing
Eric McPherson, a former senior defense trade analyst with the State Department, has joined Boeing as a senior trade controls specialist, he announced this week on LinkedIn. McPherson left the State Department in July after nearly two decades with the agency.
Trump Withdraws Defense Export Nominee
President Donald Trump told lawmakers Sept. 29 that he has withdrawn his nomination of Chris Pratt to be assistant secretary of state for political-military affairs, according to Congress.gov. It's unclear what prompted the move. The White House sent the nomination to Capitol Hill in February, and Pratt testified before the Senate Foreign Relations Committee in May (see 2505150053).
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