Treasury Secretary Scott Bessent told reporters in Stockholm, Sweden, that the Chinese delegation spoke too early when they said the two sides agreed to another 90 days at current tariff levels, because the president is the one to decide. However, in a later interview with CNBC, Bessent said the meetings had been "highly satisfactory."
The Council of the European Union on July 29 decided to renew its list of individuals and entities subject to restrictive measures meant to combat terrorism. The measures cover 13 individuals and 22 entities. As part of the renewal, the council delisted one deceased individual but left the rest "unchanged."
The Office of Foreign Assets Control's $11.8 million sanctions fine levied on Interactive Brokers earlier this month is another sign that the agency intends to focus enforcement on "financial gatekeepers," including investment firms, accountants and wealth advisers (see 2506230023), Baker Botts said in a client alert.
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California-based electronic design automation firm Cadence will pay more than $140 million in combined civil fines, criminal penalties and forfeitures after the U.S. said it violated export controls against China. The company pleaded guilty to illegally exporting EDA hardware, software and semiconductor design intellectual property technology to Chinese entities, including a university and company on the Entity List.
President Donald Trump said he's no longer giving Russia 50 days, until Sept. 2, to stop its war in Ukraine or face trade measures. He told reporters in Scotland on July 28, "I'm going to make a new deadline of about 10 or 12 days from today. There's no reason in waiting," he said. "We just don't see any progress being made."
The Trump administration is considering imposing a terrorist designation on the Gaza-based Popular Resistance Committees, a State Department official said July 23.
Reps. Laurel Lee, R-Fla., and August Pfluger, R-Texas, introduced a bill July 25 that would clarify that ship-to-ship transfers of liquefied natural gas to be used as marine fuel are not considered exports unless conducted in foreign waters.
The Office of Foreign Assets Control last week labeled Venezuela-based Cartel de los Soles a Specially Designated Global Terrorist. OFAC said the cartel is a criminal group headed by Venezuelan leader Nicolas Maduro, adding it "provides material support" to groups the U.S. has labeled foreign terrorist organizations, including Tren de Aragua and the Sinaloa Cartel.
The Trump administration is still wrestling with how exactly to scope its replacement for the Biden-era AI diffusion rule, Commerce Secretary Howard Lutnick said.