Although Congress last week shelved a compromise to restrict outbound investment in China, two key lawmakers said they believe the legislation or something similar could become law next year.
A dispute panel ruled that Mexico's ban on genetically modified white corn, along with its intention to phase out GMO yellow corn for industrial foods and animal feed, violate the NAFTA successor agreement, because they "are not based on relevant international standards, guidelines or recommendations, or on an assessment, as appropriate to the circumstances, of the risk to human, animal, or plant life or health," and Mexico didn't conduct its own documented risk assessment, or base the decree on science.
David Rivera, a former Republican member of Congress from Florida, was charged this week with violating the Foreign Agents Registration Act after he allegedly failed to report receiving millions of dollars in exchange for lobbying the Trump administration to remove sanctions on a Venezuelan businessman.
The U.S. probably won't immediately lift a broad range of Russia sanctions when Donald Trump enters the White House next month, the former director of the Office of Foreign Assets Control said this week, despite the president-elect’s campaign promises to end the war between Russia and Ukraine during his first day.
The outbound investment legislation that lawmakers agreed Dec. 17 to include in a newly unveiled continuing resolution (CR) (see 2412170063) would expand upon the Biden administration’s August 2023 executive order (see 2308090066) by covering more artificial intelligence models and by adding hypersonic and related aerospace technologies.
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Semiconductor companies should expect more export control rules from the Bureau of Industry and Security before the Trump administration takes office, including possibly new licensing rules and record-keeping requirements for certain chip exports to destinations outside of China, trade lawyer Charles Capito said.
Donald Trump's return to the White House brings a "lack of predictability," Baker McKenzie attorneys said during a webinar last week on how threatened tariffs could affect countries around the globe.
The U.S. is planning new export controls to restrict sales of advanced artificial intelligence chips to certain parts of the world in a bid to further limit China’s ability to access them, The Wall Street Journal reported Dec. 13. The rules, which could reportedly come this month, may place caps on shipments of AI chips to certain countries for use in large computing facilities, including nations in Southeast Asia and the Middle East. Close U.S. allies would not be affected, the report said. The Biden administration recently sent letters to major chipmakers informing them about some of the restrictions.
Even if a transaction is authorized by a Treasury Department sanctions license or a Commerce Department export license, it still may be subject to prohibitions or notification requirements under Treasury’s new outbound investment rules (see 2410280043), the agency said in new FAQs.