The Treasury Department is considering extending the deadline by which three U.S. allies must meet certain criteria to remain eligible for a foreign investment review exemption, the agency said last week. Treasury’s proposed rule would extend the deadline for one year to give Australia, Canada and the United Kingdom more time to cement their positions as excepted foreign states and excepted real estate foreign states, which excludes them from certain screening requirements by the Committee on Foreign Investment in the U.S. Comments on the proposal are due Dec. 15.
India updated the item description for peptones to include collagen peptides of marine, bovine or poultry origin, the Directorate-General of Foreign Trade said. The Nov. 8 notification applies to HS Code 35040010 at Serial No. 173. The full item description now reads "Peptones including Collagen Peptides of marine or bovine or Poultry origin (also referred to as Collagen, Collagen Hydrolysate, Hydrolysed Collagen or Hydrolysed Gelatin) and Fish Protein."
A United Arab Emirates bank violated the U.S.’s now-repealed Sudanese Sanctions Regulations when it illegally processed more than 1,700 payments for Sudanese banks, the Office of Foreign Assets Control said Nov. 9. The bank, Mashreqbank psc, was issued a “finding of violation” by OFAC instead of a fine, partly because the bank voluntarily entered into a “retroactive statute of limitations waiver agreement,” which allowed OFAC to charge Mashreq with the sanctions violations.
Vietnam's Hai Phong Customs Department fined a company over $7,000 for importing goods labeled with false country of origin information, the state-run publication CustomsNews said. The goods were declared as glass door accessories originating in China. After physical inspection, the local customs department found 1,000 locks used in glass doors, which the company had declared as glass door lock clamps. The customs department forced the company to reexport the goods.
Norbert Basengezi Katintima, former vice president of the Democratic Republic of the Congo's National Independent Electoral Commission (CENI), launched a case Nov. 5 at the U.S. District Court for the District of Columbia to challenge his spot on the Specially Designated Nationals and Blocked Persons List. Katintima is challenging the decision made by the Treasury Department's Office of Foreign Assets Control to deny his delisting application. The former CENI official says that the circumstances that contributed to his original listing have changed, necessitating his removal from the list (Norbert Basengezi Katintima v. Bradley Smith, et al., D.D.C. #21-02917).
A European Union official said that even once the bloc passes its Carbon Border Adjustment Measure, "that definitely doesn’t preclude joint work on international coordination" on preventing manufacturing from moving to countries that aren't as ambitious in fighting climate change.
New draft text of Congress’ Build Back Better Act budget reconciliation bill includes a tax credit to incentivize advanced semiconductor manufacturing, which would help “strengthen” U.S. supply chains, the Semiconductor Industry Association said Oct. 28. The incentive, included in the reconciliation package released by congressional Democrats Oct. 28, would create an investment tax credit of up to 25% for certain “advanced manufacturing facilities” and a tax credit for certain “eligible components.” The credit would specifically be available for “property for the manufacturing of semiconductors and semiconductor tooling equipment” that begins construction before 2027. The package hasn’t yet received a vote.
The World Trade Organization’s moratorium on customs duties on data transfers (see 1912100047) is being threatened by India, South Africa and Indonesia, which want to impose the duties to “recoup perceived lost revenue,” the Computer and Communications Industry Association said Oct. 26. CCIA said the moratorium has been “key to the development of global digital trade” and urged the Office of the U.S. Trade Representative to push for a permanent extension at the WTO.
China will no longer issue Generalized System of Preferences certificates of origin for goods exported to European Union member states, the United Kingdom, Canada, Turkey, Ukraine and Liechtenstein beginning Dec. 1, China's General Administration of Customs said in an Oct. 26 announcement, according to an unofficial translation. The move comes since these countries no longer give China preferential tariff treatment under the GSP. China will now only provide non-preferential certificates of origin to interested consignors.
The trade ministers for nearly 30 least-developed countries (LDCs) released a declaration laying out their trade priorities in advance of the 12th Ministerial Conference being held Nov. 30 - Dec. 3, the World Trade Organization said. The priorities include equal access to and faster distribution of COVID-19 vaccines and effective implementation of integration of LDCs into the global trading system. This latter point includes preferential rules of origin decisions, an LDC services waiver and duty-free market access for LDC products, the WTO said. The LDCs also called for a working group on WTO reforms to be launched at MC12. “MC12 should respond adequately to mitigate the social and economic consequences of the COVID-19 pandemic,” said Ali Djadda Kampard, Chad’s minister for trade and industry and coordinator of the WTO LDC Group.