In the News: Trade Policy, Supply Chain Security, Sanctions
Hatch says Congress will defy president if he makes a move that could start a trade war
“While Hatch and other GOP lawmakers have supported the president's push to update the terms of the wide-ranging deal, Republicans have warned the president against ending NAFTA altogether. ‘It is equally important for us to combat trade practices by foreign nations that harm American businesses and undermine the world, but the tactics we choose must be targeted directly at specific countries and specific practices,’ Hatch said.”
WCO finalizes 2018 edition of SAFE framework of supply chain security standards
“Some of the notable features of the updated SAFE Framework include the requirement of advance electronic data on postal items; addition of text on data quality; provision for certain minimum tangible benefits to AEOs; harmonization of data filing requirements and Single Window concept, as well as strengthening of cooperation with other government agencies entrusted with regulatory authorities over certain goods (e.g. weapons, hazardous materials) and passenger control, and revision of the definition of the term ‘Validation’.”
U.S. sanctions international network smuggling oil from Libya to Europe
Any property or interest in property within U.S. jurisdiction of the six individuals, 24 entities, and seven vessels designated by OFAC is blocked, and U.S. persons are generally prohibited from engaging in transactions with these parties, including entities they own or control.