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This blog post is the first in an on-going series of blogs and articles by Dashboard Insights on the implications to the automotive industry of the June 23, 2016 referendum decision in the United Kingdom (“UK”) to exit the European Union (“EU”). This first blog will reprise briefly developments leading to the Brexit vote, the process that now appears likely to unfold and the implications as the UK changes its relationship with the EU. Suffice…
In the last several years, the U.S. has been aggressively enforcing laws governing exports and international conduct. This is amply illustrated by the continuing imposition of large penalties on multinational companies for violations of U.S. economic sanctions and export control laws. To stay ahead of the threats, manufacturers can better manage their risk and mitigate costs by adopting a risk-based approach to compliance tailored to their unique method of operations, risk profile, countries of operation,…
After several weeks of legislative wrangling, congressional leaders will send a bill to President Obama this week to give him fast-track authority to negotiate a trade deal that will potentially govern 40 percent of U.S. imports and exports. The Trade Act of 2015 [also referred to as “Trade Promotion Authority” (TPA) or “fast-track trade authority”], will allow the President to negotiate the 12-country Trans-Pacific Partnership (TPP) free trade deal with limited congressional interference.…
Congressional leaders are working to find a way to pass legislation that would give President Obama fast-track authority to negotiate a trade deal that will potentially govern 40 percent of U.S. imports and exports. The Trade Act of 2015 [also referred to as “Trade Promotion Authority” (TPA) or “fast-track trade authority”], would allow the President to negotiate the 12-country Trans-Pacific Partnership (TPP) free trade deal with limited congressional interference.…
On June 12, the House derailed legislation that would have given President Obama authority to negotiate, with limited interference from Congress, a trade deal that will potentially govern 40 percent of U.S. imports and exports.…
On June 3, 2013, President Obama signed a new executive order expanding U.S. extraterritorial sanctions on Iran to multinational corporations that engage in significant financial or commercial transactions with the Iranian automotive sector. The move strengthens the new sector-based sanctions regime imposed under the Iran Freedom and Counter-Proliferation Act of 2012 (“IFCA”), which targets business and industries that generate significant revenues for the Iranian Government. Sectors already subject to these extraterritorial sanctions include financial services, shipbuilding,…
On April 24, 2013, Acting U.S. Trade Representative (“USTR”) Demetrios Marantis formally notified Congress that the United States plans to include Japan in Trans-Pacific Partnership(“TTP”) negotiations. Coming just three days after the TTP parties accepted Japan’s entry bid, and less than a month since Japanese Prime Minister Shinzo Abe’s announcement that Japan would apply to join the talks, the move clears the way for new trade proposals that carry significant consequences for the U.S.…
Japanese Prime Minister Shinzo Abe’s announcement that Japan will join talks on the Trans-Pacific Pacific Partnership (“TPP”) presents potential challenges for the U.S. automotive sector. Together with Canada and Mexico’s entry in October 2012, the decision could transform the TPP into a major trade pact spanning some of the largest economies on the Pacific Rim. The outcomes for U.S. companies are still uncertain, however. With Japanese lawmakers pushing to preserve protections for certain domestic producers, U.S. automotive exporters…
Multinational companies in the automotive supply sector could face heightened enforcement risks under new sanctions on Iran. Effective March 8, 2013, U.S. parent companies will become liable for Iran-related sanctions violations committed by their foreign subsidiaries–including subsidiaries incorporated as separate legal entities outside U.S. jurisdiction. The move represents a sudden change in Treasury Department’s previous approach, which permitted foreign entities to deal with Iran so long as there was no U.S.-person involvement. Now U.S. parents…