The Foreign Supplier Verification Programs for Food Importers (FSVP), establishes guidelines for importers to vet their foreign manufacturers, ensuring that food products destined for the U.S. are safe for consumption. The FSVP was created under the Food Safety Modernization Act (FSMA). These standards of the FSVP are in line with the goals articulated in the U.S. Food and Drug Administration (FDA) Strategy for the Safety of Imported Food. The FDA seeks to ensure that foreign-manufactured food products are safe for consumption. Further, as discussed in Diaz Trade Law’s previously published blog, the FDA issued its first FSVP warning letter in September 2019, and since then has issued at least 60 more!
On April 30, 2021, the Bureau of Industry and Security (“BIS”) announced that it had fined FLIR Systems, Inc. $307,922 for an egregious violation of the Export Administration Regulations (“EAR”) for misrepresentations made in commodity jurisdiction (“CJ”) requests. A BIS spokesperson said: “BIS will not tolerate exporters that provide inaccurate or incomplete representations related to export regulations and laws.”
This recent announcement is a textbook example of why it is important to obtain counsel and be both proactive and truthful in regards to your export compliance. Whether you are new to exporting or looking to understand the foundations of export controls, including a discussion of recent penalty cases like FLIR’s (so they do not happen to you), or a seasoned professional looking to understand the latest developments, this one-hour webinar is a must attend. Register today to hear directly from the following expert duo:
On March 10, 2021, via Federal Register Notice ( 86 FR 13785), the United States Trade Representative (USTR) announced that 99 medical product exclusions will be extended from March 31, 2021, to September 30, 2021. This action extends a previous USTR action which extended these exclusions from December 31, 2020, to March 31, 2020 (85 FR 85831). […]
Co-Authored by Sharath Patil
COVID-19’s Impact on the Global Economy
The COVID-19 pandemic has had systemic implications for nearly every facet of our lives and society. The world of international trade is certainly no exception. Businesses and governments alike have had to figure out how to continue import and export operations while accounting for the risks present in the current trading climate. Challenges that importers and exporters have faced include: 1) dramatic demand spikes for certain goods, 2) equally dramatic crashes in demand for other goods, 3) significant back-ups of inflowing shipments at key ports, 4) an increase in trade restrictions and other barriers to trade, and 5) contractions in trade volumes, just to name a few.
Background on EO 13959
On November 12, 2020, President Trump issued Executive Order 13959 (“EO 13959”), Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies. EO 13959 prohibits U.S. investors from purchasing or investing in securities of companies identified by the U.S. government as Communist Chinese military companies (“CCMCs”), a designation determined by the U.S. Department of Defense and the U.S. Department of the Treasury.
Since former President Trump signed EO 13959, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) has issued clarifying guidance and general licenses on this matter.