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OFAC

The Treasury Department’s Office of Foreign Assets Control administers and enforces U.S. economic and trade sanctions targeting countries, entities and individuals that pose national security or foreign policy concerns. OFAC regulations impose restrictions on transactions, blocked property and dealings with sanctioned parties and carry significant civil and criminal penalties. This section covers regulatory updates, enforcement actions and policy guidance affecting companies engaged in international trade and financial activity.

 

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China Magnesium Metal: Prelim Results of AD Admin Review
January 5, 2016 |AD/CV - Patent

The Commerce Department issued the preliminary results of its antidumping duty administrative review on magnesium metal from China (A-570-896) (here). The agency again said the only companies under review, Tianjin Magnesium International Co., Ltd. and Tianjin Magnesium Metal, Co., Ltd., had no exports of subject merchandise to the U.S. during the period under review. If Commerce's "no shipments" finding for TMI and TMM is continued in the final results, subject merchandise from the companies will continue to enter at AD rates set in the most recent previous review, and any entries filed with TMI or TMM's case number during the period of review will be liquidated at the China-wide rate. Commerce will make its final decision when it issues the final results of this review, currently due in May.

Corrosion Resistant Steel Products: Prelim AD Cash Deposit Rates Take Effect, Scope Amended
January 4, 2016 |AD/CV - Patent

The Commerce Department made preliminary affirmative antidumping duty determinations that corrosion resistant steel products from Italy (A-475-832) (here), India (A-533-863) (here), China (A-570-026) (here) and South Korea (A-580-878) (here) are being sold in the U.S. at less than fair value. The agency will impose AD duty cash requirements on entries of subject merchandise from India and Italy beginning on Jan. 4, and from China and South Korea beginning on Jan. 4 or Oct. 6, depending on whether Commerce found "critical circumstances" for each particular exporter.

Consumer Intentions to Buy TVs Fell Sharply in December, Conference Board Says
December 30, 2015 by Paul Gluckman|Trends

Consumer intentions to buy TV sets fell sharply in December from November, according to preliminary data in the Conference Board’s monthly survey. Of 5,000 homes canvassed by Nielsen for the Conference Board through Dec. 15, 12.9 percent of consumers said they plan to buy a TV set in the next six months, down from 14.2 percent in November and 13.2 percent in December 2014, the Conference Board said. The Consumer Confidence Index, which fell “moderately” in November, improved in December, rising to 96.5 points from 92.6 in November, the Conference Board said in a Tuesday announcement. “As 2015 draws to a close, consumers’ assessment of the current state of the economy remains positive, particularly their assessment of the job market,” it said. “Looking ahead to 2016, consumers are expecting little change in both business conditions and the labor market. Expectations regarding their financial outlook are mixed, but the optimists continue to outweigh the pessimists.”

China Solar Cells: Prelim Results of AD Admin Review
December 28, 2015 |AD/CV - Patent

The Commerce Department issued the preliminary results of its antidumping duty administrative review on crystalline silicon photovoltaic cells, whether or not assembled into modules, from China (A-570-979) (here). In the final results of this review, Commerce will set assessment rates for subject merchandise entered December 2013 through November 2014.