The U.S. wants to remove more export barriers faced by the commercial space industry even after announcing a set of space-related export control reforms in October, a senior official said this week, adding that the effort could continue under the incoming Trump administration.
Former President Donald Trump is projected to win reelection and Republicans took back control of the Senate, setting up a possible repeat of the first Trump-led government that frequently used export controls to counter China and didn’t hesitate to levy threats at traditional U.S. trading partners.
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Members of the multilateral Missile Technology Control Regime need to do more to account for rising innovation and commercialization in the global space technology industry, which may be making export control enforcement more challenging and increasing the risk of missile proliferation, researchers said in a recent report.
Maros Sefcovic of Slovakia, the EU’s candidate for trade and economic security commissioner, said this week he would “double down” on defending European industry against “increasingly widespread” unfair practices.
A Texas-headquartered offshore drilling company is filing a voluntary disclosure with the Office of Foreign Assets Control after its former Russian subsidiary may have breached U.S. sanctions, according to corporate filings.
The Treasury Department is moving forward with a rule that will add 59 military bases across 30 states to the jurisdiction of the Committee on Foreign Investment in the U.S. and increase the scope of transactions CFIUS can examine for land purchases near eight other military bases (see 2407090003). The rule, released this month in prepublication form, includes multiple bases that lawmakers for months have urged Treasury to add to its purview, including two near planned Chinese lithium battery and electric vehicle plants.
Banks that choose not to follow a set of export compliance best practices recently issued by the Bureau of Industry and Security may be leaving themselves “wide open” to possible penalties under U.S. export regulations, a senior BIS official said, especially if they don’t have other compliance safeguards in place.
The Bureau of Industry and Security fined multinational chip maker GlobalFoundries $500,000 after it illegally exported semiconductor wafers to a Entity Listed firm with ties to Semiconductor Manufacturing International Corp. (SMIC), China’s flagship chip manufacturing company.
U.S. export control efforts -- along with enforcement risks for companies -- will continue to rise no matter who wins the upcoming presidential election, said Matthew Axelrod, the lead export enforcement official at the Bureau of Industry and Security.