September 2016

On September 14, 2016, the U.S. International Trade Commission (USITC) launched a new web page to engage American manufacturers who may benefit from the Miscellaneous Tariff Bill (MTB). The MTB supports manufacturers by eliminating or reducing import duties on hundreds of materials and products that are not produced domestically, cutting production costs and enhancing global competitiveness.

The American Manufacturing Competitiveness Act of 2016 (PL 114–159) established a new process for submitting MTB petitions, which traditionally required Members of Congress to introduce bills. Under the new system, likely beneficiaries will submit petitions directly to the USITC within a 60-day period, beginning October 14, 2016. Anticipated revenue loss for each product must be less than $500,000 per year.

On August 31, 2016, Hanjin Shipping Co. filed for bankruptcy protection in South Korea. Two days later, Hanjin filed in U.S. Bankruptcy Court for the District of New Jersey for Chapter 15, which provides a mechanism in the U.S. for resolving problems that arise in cross-border bankruptcies. Three out of four U.S. shippers reportedly have…

On September 1, 2016, the Office of Foreign Assets Control (OFAC) placed sanctions on 37 new individuals and entities to prevent attempts to circumvent U.S. sanctions against Russia, help the private sector with compliance and to foster a diplomatic resolution to the conflict in Ukraine. The new list (found here) includes 17 separatists in eastern Ukraine or Russian-occupied Crimea, including 11 officials operating in Crimea.  18 companies operating in Crimea, including a number of construction, defense and maritime firms, and a Ukrainian charity were added to the Specially Designated Nationals (SDN) list.  The list includes construction companies, PJSC Mostotrest and SGM –Most OOO, which were awarded contracts to complete the Kerch Strait Bridge to connect Russia to Crimea.