Export Compliance Daily is providing readers with the top stories from last week, in case you missed them. You can find any article by searching for the title or clicking on the hyperlinked reference number.
The Bureau of Industry and Security shouldn't expect freight forwarders and logistics providers to carry out the same level of 50% rule due-diligence as exporters, which have much more visibility into the products being shipped and are better positioned to make sure they comply with the new regulations, logistics companies and trade groups told BIS in public comments released this month.
The Bureau of Industry and Security needs more resources to address the surge in export license applications that’s expected if its new 50% rule comes back into effect with no changes, industry groups said, adding that otherwise, the agency risks severely delaying or pausing large volumes of trade.
Sen. Rick Scott, R-Fla., and Senate Banking Committee ranking member Elizabeth Warren, D-Mass., introduced a bill last week that would require the Bureau of Industry and Security to conduct a competitive market review of applications to export items to entities on the agency’s Entity List.
Rep. Michael McCaul, R-Texas, chairman emeritus of the House Foreign Affairs Committee, said Nov. 20 that he plans to introduce a bill to place subsidiaries on the Bureau of Industry and Security’s Entity List if they're owned 50% or more by companies on that list.
Rep. Bill Huizenga, R-Mich., who chairs the House Foreign Affairs Subcommittee on South and Central Asia, which oversees the Bureau of Industry and Security, introduced a bill Nov. 17 to promote multilateral coordination on export controls for chipmaking equipment.
The Netherlands is suspending its takeover of Chinese-owned semiconductor firm Nexperia, announced Vincent Karremans, the Dutch minister of economic affairs. The Netherlands has had "constructive discussions with the Chinese authorities" and is "positive about the steps the Chinese authorities have taken to restart the supply of chips to Europe and the rest of the world," he said Nov. 19 in a statement, according to an unofficial translation.
Export Compliance Daily is providing readers with the top stories from last week, in case you missed them. You can find any article by searching for the title or clicking on the hyperlinked reference number.
The U.S. appeared to have underestimated or not understood the impact of the Bureau of Industry and Security 50% rule, especially the volume of license applications the agency was set to receive, said Thea Kendler, former BIS assistant secretary for export administration.
The EU needs to overhaul its approach to export controls so it can better respond to rising extraterritorial restrictions by the U.S. and China, a European Parliament member told a conference of EU and U.S. government and industry officials last week.