I screamed at the top of my lungs what’s going on! Come by for a casual end-of-year chat about what’s happening in the world of international trade. Our experts have a grab bag of topics, and you’re welcome to submit your own questions!
Justice: Justice Department Proposes Rule to Control Access to Bulk Personal and U.S. Government Data
Justice: Justice Department Proposes Rule to Control Access to Bulk Personal and U.S. Government Data
Justice is proposing a rule that implements an Executive Order from February, with the goal of controlling access to bulk personal data and US government-related data. Comments are due by 11/29/2024. The 112-page document also address comments that were made following the March 2024 advanced notice of proposed rulemaking. The rule here identifies classes of transactions that would be prohibited or restricted, identifies country of concern and persons that would be prohibited, and establishes a process to get licenses to authorize those transactions.
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BIS: New York Semiconductor Firm Shipped $17.1 Million in Wafers to Entity List Company
BIS has imposed a civil penalty of $500,000 on GlobalFoundries US. GlobalFoundries is a semiconductor manufacturer in New York, and they shipped ~$17.1 million in semiconductor wafers to a company on the BIS Entity List without licenses. They voluntarily disclosed, cooperated with the investigation, and took remedial issues after discovery. Read More
DOD: 70 Imported Items Could Lose Exemptions to Boost Domestic Production
The Department of Defense put out a proposed rule that is available for comment until 12/23/2024 amending the list of domestically nonavailable articles under Buy American. Federal contractors are often subject to Buy American rules that require a certain percentage of the materials they use be US-origin. There is a list of items that don’t…
OFAC: Vietnam Beverage Co. Settles with OFAC for $860,000 Over North Korea Sanctions Violations
The Office of Foreign Assets Control settled with Vietnam Beverage Company for $860,000 to resolve 43 apparent violations of the North Korea Sanctions Regulations. They caused US financial institutions to process over $1m in payments for alcoholic beverages sold to North Korea. More details here. Read More
Justice: Attempted Unlawful Exports and Money Laundering in Iran Scheme
Justice convicted Brian Assi of violations of IEEPA and the Iran Sanctions for attempting unlawful exports without a license, attempting to smuggle goods, submitting false/misleading export information, and conspiracy to commit money laundering. This is because Assi was attempting to assist in exporting US-made machinery to Iran without licenses. Read More