TRADE DISPUTE

The U.S. Securities and Exchange Commission recently issued interim final amendments detailing the process for identifying “Commission-Identified Issuers” within the context of the Holding Foreign Companies Accountable Act, which bans trade on any U.S. securities exchange of shares of any firm if the firm’s audit reports cannot be audited by the Public Company Accounting Oversight Board for three consecutive years. More

The U.S. Federal Communications Commission on 17 March voted unanimously to take the next steps toward barring Pacific Networks Corp. and its wholly-owned subsidiary ComNet, along with China Unicom Americas, from all activity in the United States. More

The Biden administration has outlined its primary defences to the more than 3,500 cases filed at the U.S. Court of International Trade against Section 301 tariffs on List 3 and 4A goods from mainland China. The U.S. asserts, among other things, that USTR had statutory authority to issue these tariffs because the burden or restriction on U.S. commerce by the mainland Chinese acts. More

On 12 March, U.S. District Judge Rudolph Contreras granted Xiaomi a preliminary injunction against implementation and enforcement of the provisions pursuant to EO 13959. Among other things, Contreras wrote that there is “plainly a lack of substantial evidence to adequately support a finding that Xiaomi is a CCMC.” Accordingly, the prohibitions in EO 13959 will not apply with respect to Xiaomi pending further order of the Court. More