Here is a recap of the latest customs and international trade law news:
By March 9, 2022, Customs and Border Protection (CBP) officers seized three different packages in a 24-hour timeframe totaling over $4.55 million in counterfeit items including watches, bracelets, necklaces, earrings, and rings exported from Hong Kong and the United Emirates.
DOC / Export Controls
On March 16, 2022, the Department of Commerce as a further response to Russia’s invasion of Ukraine with the enabling of Belarus is imposing restrictions on the export, reexport, or transfer (in-country) to or within Russia or Belarus of ‘luxury goods’ under the Export Administration Regulations (EAR) and for exports, reexports, and in country transfers worldwide to certain Russian or Belarusian oligarchs and other malign actors supporting the Russian or Belarusian governments.
On March 18, 2022, the Federal Reserve released a notice advising the public that the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties will increase from the previous quarter. For the calendar quarter beginning April 1, 2022, the interest rates for overpayments will be 3 percent for corporations and 4 percent for non-corporations, and the interest rate for underpayments will be 4 percent for both corporations and non-corporations.
On March 14, 2022, the U.S. Food and Drug Administration announced the rates for over the counter (OTC) monograph drug user fees for fiscal year (FY) 2022 in a Federal Register Notice publishing fees for OTC monograph drug facilities and OTC Monograph requests (OMORs) for fiscal year 2022. “Over-The-Counter Monograph Drug User Fee Rates for Fiscal Year 2022” includes information about facility fee calculations, OMOR fee calculations, fee due dates, and fee payment options and procedures. OTC monograph drug facility fees for FY 2022 are due June 1, 2022.
OFAC / Sanctions
On March 15, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) re-designated Alyaksandr Lukashenka of Belarus, the head of a corrupt government in Belarus whose patronage network benefits his inner circle and regime, and newly designated his wife pursuant Executive Order (E.O.) 13405. “Today’s designations demonstrate the United States will continue to impose concrete and significant consequences for those who engage in corruption or are connected to gross violations of human rights,” said OFAC Director Andrea Gacki.
On March 18, 2022, the Office of Foreign Assets Control (OFAC) designated the Los Huistas Drug Trafficking Organization (DTO) and its leaders pursuant to Executive Order (E.O.) 14059 for drug trafficking that threaten the people and security of the United States and Guatemala.
USTR / U.S. Trade Policy
On March 16, 2022, United States Trade Representative Katherine Tai and United Kingdom Secretary of State for International Trade Anne-Marie Trevelyan announced they will host joint U.S./UK Dialogues on the Future of Atlantic Trade in Baltimore, Maryland on March 21 and 22, 2022 and in the UK later this Spring to explore how the United States and United Kingdom can collaborate to advance mutual international trade priorities rooted in our shared values.
On March 11, 2022, President Biden, along with other G7 leaders, announced additional economic actions to further isolate Russia from the global economy and hold President Putin accountable for his war against Ukraine by revoking the most favored nation treatment of Russian products by the world’s largest economies. President Biden and G7 leaders are denying Russia benefits of membership at the World Trade Organization and revoke Permanent Normal Trade Relations for Russia.
If you have questions about these updates, contact our Customs and International trade law attorneys at email@example.com or call us at 305-456-3830.
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