INTERNATIONAL BUSINESS AND TRADE
Provisional anti-dumping duties have been levied on imports of Sodium Acid PyroPhosphate (SAPP) from China, Canada and the U.S. (31 ITR 599; 3/27/14).
China was the primary source economy for counterfeit and pirated goods seized in 2013 by the U.S. Customs and Border Protection (CBP) and the U.S. Immigration and Customs Enforcement (ICE) (31 ITR 572; 3/27/14).
INTERNATIONAL AGREEMENTS AND INVESTMENTS
Russian and Japanese investors signed thirteen agreements at the Russian-Japanese Investment Forum conducted on March 19, 2013 which are worth an estimated $2.5 billion in annual trade (31 ITR 586; 3/27/14).
An agreement between the U.S. and Iran to halt expansion of its nuclear program in exchange for sanctions relief left in tact principal regulatory sanctions such as a ban on U.S. funds trading and investing in Iranian markets (31 ITR 573; 3/27/14).
South Korea will be added to the list of countries eligible to export poultry products to the U.S. (79 Fed. Reg. 16,656; 31 ITR 594; 3/27/14).
Negotiations were concluded on a bilateral free trade agreement with South Korea to eliminate import tariffs on automotive products (31 ITR 512; 3/13/14).
The World Trade Organization (WTO) Government Procurement Agreement (GPA) entered into force April, 2014 as a result of Israel becoming the tenth party to approve the GPA protocol (31 ITR 530; 3/20/14).
The U.S. Court of Appeals for the Federal Circuit will review the circumstances under which a corporate officer of an Importer of Record (IOR) can be held personally liable for gross negligence penalties if the value of imported merchandise is materially misrepresented to the U.S. Customs and Border Protection Agency (USCBP) (U. S. v. Trak Leather, Inc., Fed. Cir. No. 2011-1527, 3/5/14; 31 ITR 489; 3/13/14).
A final rule to amend the Export Administration Regulations (EAR) regarding the Australia Group (AG) multilateral export control regime was published in the Federal Register (79 Fed. Reg.16,664) (31 ITR 575).
The Federal Trade Commission (FTC) issued final amendments to its Textile Labeling Rules addressing fiber content and country of origin disclosures (31 ITR 529, 3/20/14).
Retroactive application of the law allowing countervailing duties (CVD) to be imposed on Non-Market Economy’s (NME) imports did not violate the Ex Post Facto Clause of the U.S. Constitution according to the U.S. Court of Appeals for the Federal Circuit (Guangdong Wireking Housewares & Hardware Co. v. U.S., Fed. Cir.No. 13-1404, 3/18/14;31 ITR 536).
The Federal Circuit Court of Appeals upheld the rescission by the Commerce Department of a "new shipper review" for a Chinese producer and exporter of juvenile wooden bedroom furniture (Marvin Furniture (Shanghai) Co., v. U.S., Fed. Cir. No. 2013-1156, 3/11/14; 31 ITR 489; 3/13/14).
Esterline Technologies Corp. entered into a three year consent agreement with the State Department to resolve alleged civil violations of the Arms Export Control Act (AECA) and the International Traffic and Arm Regulations (ITAR) by paying a civil penalty of $20 million for the unlicensed export of Defense Articles, including technical data and Defense Services in the areas of aviation electronics, control devices and subsystems from military aircraft cockpits, vehicles, power-switching and control components (31 ITR 486; 3/13/14).
EXPORTS AND PROCUREMENT
The European Union (EU) will impose a series of sanctions on Russia including visa bans and asset freezes in retaliation for the annexation of Crimea (31 ITR 587; 3/27/14).
INTERNATIONAL DEBT WATCH*
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*Excerpts from Economic and Financial Indicators published by The Economist, March 29, 2014