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International Trade
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December 06, 2024
DC Circ. Ruling Far From Last Word On Looming TikTok Ban
The D.C. Circuit's decision Friday paving the way for a U.S. ban on TikTok to take effect next month sparked immediate concerns about the loss of a social platform that millions rely on to freely express themselves, but a likely appeal and upcoming administration change could end up flipping the script.
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December 06, 2024
Chinese Magnet Co. CEO Latest Charged In DOD Supply Scam
Federal prosecutors on Friday unsealed the latest indictment in an allegedly sprawling conspiracy involving Quadrant Magnetics LLC and its employees, charging Quadrant's CEO with conspiring to export sensitive U.S. defense data to China while illegally selling U.S. defense companies Chinese-made Quadrant magnets.
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December 06, 2024
Canada's Chinese Import Surtaxes Expected To Raise $334M
Canada's new surtaxes on Chinese electric vehicles and steel and aluminum products are estimated to generate CA$473 million ($334 million) over the next five years, though the EV surtax on its own is likely to cause a dip in revenue, a government analysis said.
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December 06, 2024
EU Finalizes Deal With South American Trade Bloc
After 25 years of negotiations, and five years after a deal was initially struck, the European Union finalized a sweeping trade accord with the South American trading bloc Mercosur Friday, but is likely to face stiff headwinds from European farmers.
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December 06, 2024
DC Circ. Won't Revisit Retroactive FARA Registration
The D.C. Circuit on Thursday rejected a bid asking the en banc court to reconsider a panel ruling that bars the federal government from suing to compel former foreign agents to retroactively register their onetime foreign influence.
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December 06, 2024
DC Circ. Upholds TikTok Sale-Or-Ban Law
A D.C. Circuit panel on Friday upheld a federal law giving TikTok until January to cut ties with its Chinese parent company or face a ban in the U.S., ruling that the statute survives constitutional scrutiny.
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December 05, 2024
Judge Newman Brings Fight To End Her Suspension To DC Circ.
U.S. Circuit Judge Pauline Newman asked the D.C. Circuit on Thursday to rule that a suspension her colleagues have imposed on her for refusing to participate in an investigation into her fitness to serve as a Federal Circuit judge violates the U.S. Constitution.
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December 05, 2024
Chinese Bank Faces New Suit Alleging Reinsurance Fraud
Another group of insurers has accused one of China's largest banks of participating in a "multi-billion-dollar fraud" in the reinsurance market, telling a New York federal court Thursday that the bank, including its New York branch, has refused to honor over $890 million worth of letters of credit.
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December 05, 2024
Judge Won't Toss German Tesla Supplier From Mich. Suit
A German Tesla supplier must stay in a breach of contract lawsuit brought by an electronics manufacturer, a Michigan federal judge has ruled, finding the foreign entity was sufficiently intertwined with its North American affiliates to give the court jurisdiction.
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December 05, 2024
US Trade Gap Fell By $10B In Oct. As Imports And Exports Dipped
The United States' trade deficit for goods and services trade dropped $10 billion from September to October, with imports decreasing more than exports, according to a Bureau of Economic Analysis report released Thursday.
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December 05, 2024
Fed. Circ. Unlikely To Help Realtek Pursue ITC Sanctions
A Federal Circuit panel seemed baffled Thursday as a K&L Gates attorney argued that the U.S. International Trade Commission wrongly stopped his client from pursuing sanctions, with the panel repeatedly noting that the semiconductor company wasn't even a party in the import dispute.
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December 05, 2024
McKinsey Unit To Pay $123M Over South Africa Bribe Scheme
The African unit of consulting giant McKinsey & Co. will pay about $123 million to resolve a U.S. Department of Justice investigation into an alleged scheme to bribe South African government officials for contracts with state-owned companies.
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December 05, 2024
Holland & Knight Gets In On Trade Laterals With Export Expert
Holland & Knight LLP announced Wednesday it was bringing aboard a new international trade partner at its Tysons Corner, Virginina, office, part of a recent flurry of hiring in the practice area as firms seek out expertise on export controls and other trade issues in the weeks following the 2024 presidential election.
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December 04, 2024
Fla. Ex-Rep Sues Associate Connected To Foreign Agent Case
A former Florida congressman has sued an associate in Miami-Dade County over a breach of contract, alleging that he disclosed a confidential legal memorandum to law enforcement officials and others in connection to a federal indictment charging the ex-lawmaker with unlawfully lobbying on behalf of Venezuela.
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December 04, 2024
$486M Djibouti Award Fight Settled In DC
A port operator has agreed to end litigation to enforce a $486 million arbitral award issued against Djibouti, several months after the D.C. Circuit ruled that Quinn Emanuel Urquhart & Sullivan LLP would have to prove it had authority to represent the company.
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December 04, 2024
Starbucks Brass Face Derivative Suit Over 'Reinvention' Flop
Officers and directors of coffee chain Starbucks are facing shareholder derivative claims over the company's so-called Triple Shot Reinvention strategy after the company disappointed the markets in April with updates about the plan.
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December 04, 2024
US Sanctions Vessels That Aid Iran's Nuclear Program
The U.S. federal government has imposed sanctions on vessels that have played a critical role in transporting tens of millions of barrels of Iranian oil to foreign markets following the country's attack against Israel and its escalating nuclear program, according to a statement.
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December 04, 2024
Siemens Unit Beats Whistleblowing Claim Over Military Data
A Siemens-owned company is off the hook for firing a design engineer after an employment tribunal ruled that his contract wasn't renewed because of performance issues rather than his concerns over the transfer of military data.
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December 04, 2024
Steptoe Vet Will Lead Troutman Pepper's Sanctions, Trade Group
Troutman Pepper Hamilton Sanders LLP has hired a longtime Steptoe LLP lawyer to lead its sanctions and trade controls team in Washington, D.C., as the local lateral market continues responding to the coming change in political control in the nation's capital.
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December 04, 2024
Trump Brings Navarro Back Into White House Trade Fold
President-elect Donald Trump tapped longtime adviser Peter Navarro for a new White House trade post Wednesday, bringing back one of the most influential voices of his tariff-heavy first term months after he was released from prison following a contempt of Congress charge.
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December 04, 2024
UK Busts Multibillion-Dollar Russian Money Laundering Ring
The National Crime Agency said Wednesday that it has dismantled two Russian money laundering networks tied to drugs, ransomware and espionage in an international operation with the United States, France and Ireland.
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December 03, 2024
Equipment Co. Inks $14.5M OFAC Deal Over Iran Sanctions
The U.S. Department of the Treasury's Office of Foreign Assets Control on Tuesday said a German industrial equipment company has inked a $14.5 million settlement to end claims that it violated Iran sanctions by supplying the country with a polypropylene plant, though a majority of the penalties will be suspended if the company meets certain compliance commitments set out by the deal.
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December 03, 2024
Top Ex-SEC Officials Warn Of Enforcement Upheaval
Former top U.S. Securities and Exchange Commission officials on Tuesday predicted a sea change in the agency's enforcement approach in the coming second administration of President-elect Donald Trump, with a lighter touch for corporate wrongdoers and a whole new ballgame with respect to cryptocurrency.
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December 03, 2024
Investor Attys Seek $6.6M Cut Of $20M Metal Price-Fixing Deal
Attorneys for investors settling platinum and palladium price-fixing claims against Goldman Sachs and others for $20 million have asked a New York federal judge to award them fees equivalent to a third of the settlement amount, or more than $6.6 million, a below-lodestar request that they said is, "clearly, not a windfall situation."
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December 03, 2024
Unit Of World's Largest Bank Avoids SEC Penalty In Cyber Case
A broker-dealer subsidiary of the Industrial and Commercial Bank of China will escape civil penalties in a settlement with the U.S. Securities and Exchange Commission over its books and records because of the firm's remediation and cooperation, the agency says.
Expert Analysis
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.
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What Insurers Need To Know About OFAC's Expanded FAQs
The Office of Foreign Assets Control's recently expanded insurance FAQs clarify how OFAC views insurance policies in a number of specific circumstances involving sanctioned parties, and make plain that sanctions compliance is the responsibility of all participants in the insurance ecosystem, including underwriters, brokers and agents, say attorneys at Morgan Lewis.
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Plugging Gov't Leaks Is Challenging, But Not A Pipe Dream
As shown by ongoing legal battles involving New York City Mayor Eric Adams and Sean “Diddy” Combs, it’s challenging for defendants to obtain relief when they believe the government leaked sensitive information to the media, but defense counsel can take certain steps to mitigate the harm, says Kenneth Notter at MoloLamken.
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Series
Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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How Trump's 2nd Term May Alter The Immigration Landscape
Rhetoric from Donald Trump's campaign and his choice of hardline appointees indicate that a more restrictive and punitive approach to immigration is in our immediate future, especially in areas like humanitarian relief, nonimmigrant visa processing, and travel and green card eligibility, says John Quill at Mintz.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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How Boards And Officers Should Prep For New Trump Admin
In anticipation of President-elect Donald Trump's proposed tariffs and mass deportation campaign, company officers and board members should pursue proactive, comprehensive contingency planning to not only advance the best interests of the companies they serve, but to also properly exercise their fiduciary duty of care, say attorneys at Winston & Strawn.
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Implementing Human Rights Due Diligence
The Bureau of Industry and Security’s recent removal of a Canadian surveillance provider from its export blacklist, after just eight months, illustrates the importance of integrating human rights due diligence into the vetting process by asking a few targeted questions, say attorneys at Cravath.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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Key Points From New Maritime Oil Price Cap Advisory
The Price Cap Coalition's updated advisory regarding the maritime oil industry's compliance with the Russian oil price cap highlights the role of governmental authorities, additional areas warranting due diligence and the need for training programs, say attorneys at Miller & Chevalier.
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Trump Patent Policy May Be Headed In Unexpected Direction
While commentators have assumed that the patent policy of President-elect Donald Trump's second administration will largely mirror the pro-patent policy of his first, these predictions fail to take into account the likely oversized influence of Elon Musk, says Jorge Contreras at the University of Utah.
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Takeaways From Final Regulations For China Investment Ban
The U.S. Department of the Treasury’s final rule banning U.S. investment in emerging Chinese technology clarifies some key requirements, includes additional exceptions for covered transactions and attempts to address concerns that the rule will put U.S. businesses at a competitive disadvantage, say attorneys at Simpson Thacher.
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Compliance Considerations Of DOJ Data Security Rule
Under the U.S. Department of Justice's proposed rule aiming to prevent certain countries' access to bulk U.S. sensitive personal data, companies must ensure their vendor, employment and investment agreements meet strict new data security requirements — or determine whether such contracts are worth the cost of compliance, say attorneys at Eversheds Sutherland.