On February 21, NYDFS Superintendent Adrienne A. Harris announced enhancements to the Department’s ability to detect fraud in the virtual currency industry. The new enhancements will improve NYDFS’s ability to combat...more
On July 23, the Office of the U.S. Trade Representative (“USTR”) announced the conclusion of its investigation under Section 301 of the Trade Act of 1974 (“the Trade Act”) into Vietnam’s practices related to currency...more
Mere days after Chinese regulators hit Jack Ma’s Alibaba with a staggering $2.8 billion antitrust fine, the e-commerce giant’s sister company, Ant Group, announced “that it would undertake a sweeping, government-ordered...more
Most of you already know Section 301 of the Trade Act of 1974 because of the Trump Administration’s massive China tariffs under Section 301. Now it’s time to get acquainted with a separate process that may result in tariffs...more
On October 2, 2020, the Office of the United States Trade Representative (USTR) issued a statement announcing the initiation of new investigations under Section 301 of the Trade Act of 1974 to determine whether Vietnam has...more
American Airlines is pushing forward with plans to furlough 19,000 workers this fall, even as the airline industry lobbies a stalemated Congress for another multi-billion dollar bailout. That figure, “when combined with the...more
In an unprecedented move, the U.S. Department of Commerce’s International Trade Administration (ITA) has recently raised the stakes, and the potential duty liability risk, for U.S. importers. On February 4, 2020, the ITA...more
On February 3, 2020, the Department of Commerce published a final rule that amends the regulations for countervailing duty investigations to allow the imposition of duties on countries that undervalue their currencies....more
On February 4, 2020, the US Department of Commerce (DOC) published a final rule establishing a process by which DOC may treat a foreign country's "currency undervaluation" as a countervailable subsidy for purposes of US...more
After months of anticipation, President Donald Trump signed an interim “Phase One” trade agreement (“the Agreement”) with Chinese Vice Premier Liu He at the White House on January 15, 2020. Under the Agreement reached after...more
While China commands the media spotlight in the global war on trade, new trade battles are being waged south of the equator. On Monday December 2, 2019, President Trump announced that he would reinstate tariffs on aluminum...more
Jobs Report Friday again. Here’s what we’re watching, including the possibility of scary low numbers thanks to the only-recently-resolved GM strike....more
Following on the heels of U.S. trade negotiators’ return from China, on 1 August, President Trump abruptly announced via Twitter an “additional Tariff of 10 percent on the remaining 300 Billion Dollars of goods and products...more
Saudi Aramco’s mega IPO plans are back on, and while valuation and other stumbling blocks remain, the kingdom is hoping to raise billions via the public offering as early as next year....more
On August 5, 2019, the US Department of the Treasury ("Treasury") announced that Treasury Secretary Steven Mnuchin, "under the auspices of President Trump," has determined that China is a "currency manipulator" pursuant to...more
A new report out Tuesday from the Food & Drug Administration reveals that drug maker Novartis “concealed manipulated data” from the agency “while applying for approval of an extremely expensive gene therapy treatment and then...more
Last week’s wild economic ride combined with China’s currency-devaluing response (and, arguably, months more of trade-war-driven global uncertainty) led to the worst day on Wall Street since last December, with the Dow...more
The U.S. Department of Justice (“DOJ”) continues to pursue Venezuelan nationals through high-dollar and high-profile money laundering and foreign bribery charges....more
On 30 September, after an intensive, last-minute flurry of negotiations, Canada joined the United States and Mexico in a new trilateral agreement to replace the original North American Free Trade Agreement (NAFTA 1.0). ...more
The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more
After more than a year of sometimes contentious negotiations, the United States, Mexico, and Canada (the “Parties”) reached an agreement late Sunday night to revise the North American Free Trade Agreement (“NAFTA”)—renaming...more
Anbang Insurance founder Wu Xiahoui’s fall from grace now includes an 18-year prison sentence for his conviction by a Shanghai court for using Anbang to “cheat investors out of more than $10 billion”....more
On April 13, 2018, the Treasury Department released its biannual report to Congress on the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, which declined to formally label China a...more
• A New York federal judge held that virtual currencies are commodities within the meaning of the Commodity Exchange Act. • This marks the first court decision to assess and to adopt the CFTC’s position that virtual...more
The Director of the U.S. Securities and Exchange Commission (SEC) Division of Investment Management has outlined concerns of the SEC Staff (Staff) with respect to the registration of funds that hold cryptocurrencies and...more