USA

CFIUS Reform and its Likely Impact on Inward-Bound US Investment

19 December 2018

The Foreign Investment Risk Review Modernization Act (FIRRMA) has been recently signed into law, the first update to the Committee on Foreign Investment in the US (CFIUS) regime in more than a decade. The reform and modernisation of the CFIUS review process is going to have a profound impact on foreign investment in the US – a development which Hong Kong companies should take heed of. More

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CBP Updates Drawback Regulations

19 December 2018

Claims for drawback of duties and taxes should be easier to file and process under new CBP regulations that took effect on 18 December. This rule, which implements the changes to drawback law made by the Trade Facilitation and Trade Enforcement Act, will also revise how CBP treats drawback of excise and other federal taxes as of 19 February 2019. More

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Tariff Hike Delay on US$200 Billion Worth of Mainland Chinese Products Formalised; Beijing to Lower Import Duties on U.S. Autos

17 December 2018

A planned increase from 10 percent to 25 percent in the Section 301 additional tariff on US$200 billion worth of imports from mainland China is being delayed from 1 January to 2 March. At the same time, Beijing has announced plans to suspend a higher duty on U.S. automobiles and auto parts and to increase purchases of U.S. soybeans and corn. More

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U.S. Approach Leads to Heated Exchanges at Final 2018 WTO Meetings

17 December 2018

Dennis Shea, U.S. ambassador to the WTO, continued to spar with his colleagues in the final meetings of the multi-lateral body for this year. At a 12 December gathering of the WTO General Council, for example, Shea objected to proposals put forward by the EU and 11 other members, including India and mainland China, to reform the WTO Appellate Body. More

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Tech Industry Given More Time to Submit Input on New Export Control Process

13 December 2018

Following a request by a large group of U.S. tech industry executives, Assistant Commerce Secretary for Export Administration Richard Ashooh has agreed to extend by three weeks the deadline to submit input on a proposal that is likely to result in export controls on emerging technologies. More

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U.S.-UK Trade Agreement to be Focus of USITC Investigation

13 December 2018

The USITC has initiated an investigation of the probable economic effect of the proposed U.S.-UK Trade Agreement. More

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Imported Composite Wood Products Must be TSCA Compliant as of March 2019

13 December 2018

CBP is advising interested parties that after 22 March 2019 regulated composite wood products (i.e., panels), including hardwood plywood, particleboard and medium-density fibreboard, may only be certified and labelled as compliant with the TSCA Title VI formaldehyde emission standards; labelling them as compliant with the CARB ATCM Phase II standards will not be sufficient. More

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Report Finds Import Revenue Debt Collection Process Needs Improvement

13 December 2018

CBP failed to ensure the timely collection, write-off and processing of delinquent debt from importers during fiscal years 2014 through 2016 and instead settled for collecting funds from importer surety bonds that yielded less than one percent of the amount owed, according to a recent report from the U.S. Department of Homeland Security’s Office of Inspector General. More

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Advance Notice Requirement for Imports of 28 Chemical Substances Withdrawn

11 December 2018

The EPA has withdrawn a direct final rule that would have required persons who intend to manufacture (including import) or process any of 28 specified chemical substances for an activity designated as a significant new use by that rule to notify the EPA at least 90 days before commencing that activity. More

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AD/CV Notices

11 December 2018

Following are summaries of current AD/CV actions targeting mainland Chinese manufacturers taken by the DOC. Products: Chlorinated isocyanurates, Certain steel nails, Fresh garlic, High pressure steel cylinders, and Various products. More

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