The Treasury’s Office of Foreign Assets Control agreed on a $1.7 million settlement with PACCAR Inc., of Bellevue, Washington, for 63 violations of U.S. sanctions on Iran by PACCAR’s subsidiary, OFAC said in an Aug. 6 notice. The subsidiary, Netherlands-based DAF Trucks N.V., sold 63 trucks worth more than $5 million to European customers that DAF knew intended to sell the trucks to Iran, OFAC said.
The Treasury’s Office of Foreign Assets Control on Aug. 6 issued a set of Venezuela-related frequently asked questions, amended 12 general licenses, created 13 new general licenses and released a Venezuela sanctions guidance detailing which types of transactions are authorized between U.S. companies and Venezuela. The moves were in coordination with President Donald Trump’s Aug. 5 executive order that expanded certain sanctions on Venezuela.
Avalara, a tax compliance software company, bought Portway International, Avalara said in an Aug. 2 news release. Portway, which is based in Canada "provides customers with Harmonized System classifications and outsourced customs brokerage services." Scott McFarlane, CEO of Avalara, said that by "combining Portway’s experience and knowledge of cross-border compliance with Avalara’s advanced technologies and expansive product content, we can help businesses reach new customers in new regions with confidence.” Terms of the deal weren't released.
Pete Mento, previously vice president of global trade and managed services at Crane Worldwide Logistics, recently joined Crowe as managing director, global customs and duties.
The World Customs Organization issued the following release on commercial trade and related matters:
The U.S. intends to cooperate on the development of the African Continental Free Trade Area, according to a joint statement signed by the African Union and the Office of the U.S. Trade Representative on Aug. 5. "The United States and the African Union intend to jointly identify subject areas related to the ongoing negotiation and implementation of the AfCFTA as subjects for cooperation and for possible technical assistance and capacity building," they said. The U.S. wants to go beyond the African Growth and Opportunity Act, which is scheduled to expire in 2025, the statement said.
South Korean companies can still import Japanese goods despite Japan’s export restrictions by making use of a Japanese approval process called the Compliance Program, according to an Aug. 3 report from the Korea JoongAng Daily. The program allows certain registered companies a shortened timeline for exporting dual-use items and allows them to trade freely for three years with “no additional paperwork,” the report said. The report said 632 Japanese companies are registered with the program, including “major material manufacturers and chemical companies” such as Toray Industries, JSR, Sumitomo Chemical and Showa Denko.
China will eliminate all duties and ease customs procedures at its Shanghai Free Trade Zone as part of an upcoming pilot program, Reuters reported Aug. 5. Chinese leaders are planning to discuss the plan this month and could announce the program this year, the report said. Among the topics of discussion, Reuters said, is whether U.S. goods and companies would be included in the program.
The Trump administration has “done virtually nothing to support exports,” failing to open new foreign markets for U.S. sellers while also tightening export controls, according to an Aug. 2 report by the Peterson Institute for International Economics. At the same time, U.S. export growth has “dropped sharply,” the report said. “Unless the president reverses course, his trade policy will continue to weaken rather than strengthen the US economy as well as undermine the global trading system,” the report said.
The Office of the High Commissioner for the United Nations Human Rights issued a report calling for sanctions against Myanmar and companies run by the country’s military, the OHCHR said in an Aug. 5 press release. The report also calls for an arms embargo and cites 14 foreign companies from seven nations that have exported “fighter jets, armored combat vehicles, warships, missiles and missile launchers” to Myanmar since 2016. The sanctions and arms embargo will weaken the country’s military and stop Myanmar from committing human rights violations, OHCHR said. The report specifically mentions Myanmar companies Myanmar Economic Holdings Limited and Myanmar Economic Corporation, which it said are owned by military leaders. The two companies control “at least 120 businesses involved in everything from construction to pharmaceuticals, manufacturing, insurance, tourism and banking,” the press release said.