On January 13, 2021 the US Department of Homeland Security’s Customs and Border Protection (CBP) announced that, effective immediately, all cotton and tomato products imported from China’s Xinjiang Uyghur Autonomous Region (XUAR) will be barred from entering the United States. The ban, officially called a Withhold Release Order (WRO), is “based on information that reasonably indicates the use of detainee or prison labor and situations of forced labor” according to CBP. This region-wide order joins…
Key Notes: U.S. persons must divest their holdings of publicly traded securities, derivatives and similar instruments of CCMCs by November 11, 2021. Holdings in mutual funds and other pooled investment vehicles are subject to the divestment requirements. On January 13, President Trump amended his previously issued Executive Order to address confusion over whether U.S. persons must divest publicly traded securities in certain “Communist Chinese Military Companies” (CCMCs). View this full client update in HTML or…
On January 15, 2021, barely two weeks after holding a public hearing into the matter and just over three months after initiating an investigation under Section 301 of the Trade Act of 1974, the Office of the U.S. Trade Representative (USTR) issued its findings regarding Vietnam’s currency valuation. USTR found that “Vietnam’s acts, policies, and practices related to currency valuation, including excessive foreign exchange market interventions and other related actions, taken in their totality, are…
On January 14, 2021, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Federal Register notice announcing the addition and removal of certain Chinese and Russian entities from the Entity List and the Military End-User (MEU) List. Notably, BIS added China National Offshore Oil Corporation Ltd. to the Entity List for its involvement in China’s “efforts to assert its unlawful maritime claims in the South China Sea, as well as efforts to…

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