The Trade Powerhouse: Analyzing Texas’ Role in Global and National Trade
Texas isn’t just celebrated for its breathtaking landscapes and rich historyāit’s a dynamic powerhouse in international and interstate trade. As the second-largest state in the U.S., Texas capitalizes on its strategic location, diverse economy, and vast infrastructure to fuel an extraordinary flow of goods and services. If Texas was a country, it would be ranked as the eighth- largest economy in the world, ahead of both Canada and Russia.
New Presidential Proclamations – Section 232 Duties on Certain Steel and Aluminum Products from Mexico
On July 10, 2024, the President issued two Presidential Proclamations related to the imposition of Section 232 duties on certain steel and aluminum products from Mexico. The first establishes a āmelt and pourā requirement for imports of steel articles that are products of Mexico and will increase the section 232 duty rate for imports of steel articles and derivative steel articles that are products of Mexico that are melted and poured in a country other than Mexico, Canada, or the United States.
Navigating the Hurdles: Challenges of Conducting an Annual CTPAT Security Review
The Customs-Trade Partnership Against Terrorism (CTPAT) program can offer a fast thoroughfare for international trade. But navigating the annual security audits that ensure CTPAT compliance can feel like a maze. Don’t worry, we’ve got you covered! Let’s explore some common hurdles faced during CTPAT security audits, along with practical tips to simplify the process.
Judicial Deference in Customs Litigation
One of the most anticipated decisions of the Supreme Courtās recent term was Loper Bright Enterprises v. Raimondo. While the specific underlying dispute in Loper Bright isnāt relevant to the trade communityādid fishermen have to pay for government-mandated observers on their vessels?āthe Court used this case to overturn the broadly applicable judicial deference test established in 1984 in Chevron U.S.A. Inc., v. Natural Resources Defense Council.
A Day in the Life of a Trade Compliance Manager: A Corporate Parable
A fly on the wall at an executive retreat for Acme Super Duper Widget Company overhears the following conversation between Pete, the CFO, and Saira, the General Counsel.
Level-Up Your CTPAT Portal
The CTPAT portal has been a work in progress for a number of years with the latest portal update (3.0) launched at the end of 2023. Letās take a few minutes to explore a few strategies for best outcomes while avoiding common challenges and the SCSS response request for āmore informationā.
Tariffs and Trade
Those who cannot remember the past are condemned to repeat it.ā – George Santayana. As an example of this I present to you the Smoot-Hawley Tariff Act of 1930. If you are not familiar with this, it is worth taking a moment to research.
New Legislation Extends Statute of Limitations for Sanctions Violations
Recently, President Biden signed a foreign military support bill (H.R. 815) into law, which also encompassed the 21st Century Peace Through Strength Act (the Act), a legislative proposal introduced in the House containing various U.S. sanctions-related measures. These sanctions measures extended the statute of limitations (“SOL”) from five to ten years for civil and criminal violations of sanctions programs administered by the U.S. Treasury Departmentās Office of Foreign Assets Control (“OFAC”).
BRICS–A Focus on De-Dollarization and Global Expansion
The new world order apparently has some merit as more than 30 nations have reportedly submitted applications to join the BRICS alliance wanting to reduce reliance on the US dollar. This wave of applications is a testament to the trust in the BRICS alliance as a viable option to a traditional economic structure. The BRICS alliance has broad shoulders and is representative of considerable economic growth.
Summary of the Findings of the USTR Four-Year Review of Actions Taken in the Section 301 Investigation
On May 14, 2024, the United States Trade Representative (USTR) released its Final Report relating to the four-year review of actions taken in the Section 301 investigation. Within the Report, the USTR confirmed that it intends to take actions to raise tariffs on specific products as a result of the comprehensive review.
