Treasury Secretary Janet Yellen declined to say whether the Biden administration will continue its strong sanctions against Cuba and suggested the agency's Cuba program may be reworked. Yellen, speaking during a June 10 House Appropriations subcommittee hearing, said Treasury is reviewing its Cuba sanctions as part of a broad agencywide sanctions review begun earlier this year (see 2106070007 and 2105280004).
The Commerce Department is working with a police agency in rural Texas to help investigate illegally exported goods, an unorthodox relationship that has sparked concern among industry lawyers and led to disputed seizures.
Rep. Devin Nunes of California, the top Republican on the House Ways and Means Subcommittee on Health, introduced a bill June 8 that would require a congressional vote before the U.S. could agree at the World Trade Organization to waive intellectual property rights on COVID-19 vaccines, a process known as a Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement waiver. The bill, H.R. 3788, “pushes back against the Biden Administration’s effort to surrender expensive American medical technology to foreign competitors,” Nunes said in a news release. “The Biden Administration’s support for surrendering intellectual property protections for American-made COVID-19 vaccines serves only to harm Americans and help hostile foreign powers like Communist China. Indeed, it’s hard to imagine a more self-defeating or unjust policy.”
Countries need to revise their foreign direct investment screening environments, which are contributing to a global drop in FDI, said Simon Evenett, a trade and economics professor at the University of St. Gallen. Evenett, who co-wrote a recent report arguing for a policy reset around FDI (see 2106030034), said a rise in screening tools is chilling investments and creating uncertainty over a range of industries.
Mehlman Castagnetti hired Alex Perkins, who was most recently senior manager of international government affairs at Stellantis, previously known as Fiat Chrysler, the lobbying firm said in a June 8 news release. “A top expert in trade, customs and supply chain policy, Perkins developed and executed a government relations and public affairs strategy to guide the Fortune 500 automaker through the NAFTA/USMCA renegotiations and helped lead the multi-sector USMCA business coalition,” the firm said. Before joining the auto industry, Perkins was counsel for the House Ways and Means Committee and for Sen. Ron Wyden, D-Ore.
A law designed to counteract foreign sanctions has been submitted to China's legislature for a second reading, China's state-run news agency Xinhua reported June 7. The draft was submitted to China's top legislative body, the Standing Committee of the 13th National People's Congress. The law would strengthen China's “legal toolkit with focus on moves against sanctions and interference and countering long-arm jurisdiction to cope with challenges and risks,” the report said. It said the law responds to an uptick in Western sanctions used as “part of their pretexts to spread rumors on and smear, contain and suppress China.” China recently issued regulations for its unreliable entity list (see 2009210017) and an export control regime (see 2010190033). Former U.S. officials say more trade restrictions laws are likely on the way (see 2012170041)
President Joe Biden said the U.S. is committed to an open investment environment and remains the “most attractive place in the world” for business despite the sometimes rigorous foreign investment screening by the Committee on Foreign Investment in the U.S. While the U.S. “will always protect our national security, and certain foreign investments will be reviewed” by CFIUS, the U.S. wants to maintain a “level playing field,” Biden said in a June 8 statement. “We believe that our country -- and our world -- are safer, more resilient, and more prosperous because of the investment of foreign-owned companies in the United States,” he said. “As the United States faces increasing competition for the jobs and industries of the future, we will remain the destination of choice for investors around the world.”
The Federal Maritime Commission is accepting applications from those interested in joining its newly formed National Shipper Advisory Committee, the FMC announced June 7. The committee -- which will accept 12 members from the export community and 12 from the import community -- will meet at least once a year and advise the FMC on the “competitiveness, reliability, integrity, and fairness” of the ocean freight delivery system. Members will serve appointments of up to three years and will not be paid. Applications are due June 30.
The Commerce Department is unsure whether the multilateral Wassenaar Arrangement will be able to meet in person this year after the regime’s 2020 plenary was canceled, potentially creating more uncertainty surrounding the group’s next batch of multilateral export control proposals. The agency also still has not made a decision on eliminating electronic export filing requirements for shipments to Puerto Rico, but has made some progress on its long-awaited routed export rule, a Commerce official said.
The Commercial Customs Operations Advisory Committee (COAC) for CBP will next meet remotely June 23, CBP said in a notice. Comments are due in writing by June 22.