Customs and Trade Law Weekly Snapshot
Here is a recap of the latest customs and international trade law news:
Bloomberg: Tariff Classification Basics
Diaz Trade Law is enthusiastic to announce Bloomberg Law published another one of our articles, “Tariff Classification Basics“! Below is the article reproduced with permission for your reading pleasure. You can read the article here (where you’ll have the ability to access all of the great hyperlinks). Please note you cannot click on the hyperlinks below.
We’d love to hear your feedback!
Customs and Trade Law Weekly Snapshot
Here is a recap of the latest customs and international trade law news:
BIS
- On January 14, 2022, the Bureau of Industry and Security (BIS) issued a notice of information collection regarding a Defense Production Act requirement for U.S. firms to furnish information to the agency regarding offset agreements exceeding $5,000,000 in value associated with sales of weapon systems or defense related items to foreign countries or foreign firms. BIS is soliciting public comments to help evaluate if the proposed information collection is necessary for the proper functions of the Commerce Department, evaluate the accuracy of their estimate of time and cost burden, evaluate ways to enhance the quality, utility, and clarity of the information to be collected, and to minimize the reporting burden.
- Comments are due no later than March 15, 2022.
CBP
- On January 18, 2022, CBP issued the largest agriculture seizures of 2021 with the top three seizures being 12,000+ pounds of marijuana, 750 unfertilized avian eggs, and 15 live giant land snails.
- On January 18, 2022, Customs and Border Protection issued Harmonized System Update (HSU) 2119 resolving issues related to the comingled data and/or missing information in previous HSUs.
- On January 22, 2022, CBP will deploy Phase 1 of the modernization of the ACE Secure Data Portal. These enhancements will include a new login screen, a new home page, and upgraded account information display and edit features.
DOT
- On January 13, 2022, the Federal Motor Carrier Safety Administration […]
Virtual Currencies & U.S. Sanctions
Diaz Trade Law’s President, Jennifer Diaz, and Associate Attorney, Sharath Patil, are enthusiastic to announce that our article, “Virtual Currencies & U.S. Sanctions” was published by the Customs and International Trade Bar Association (CITBA) in its Winter 2021 newsletter.
Our article focuses on virtual currencies scrutiny under U.S. sanctions programs administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) given the potential national security and foreign policy threats posed by their increasingly widespread use.
Below is the article for your reading pleasure.
Customs and Trade Law Weekly Snapshot
Here is a recap of the latest customs and international trade law news:
Apparel
- Nike has ended 2021 as the most valuable apparel firm globally. According to data presented by FinancePR.com, the American outfit achieved a $30.44 billion valuation in 2021, placing it at the helm of the top ten garment firms worldwide.
CBP
- On November 30, 2021, U.S. Customs and Border Protection officers in Cincinnati seized a shipment containing counterfeit designer jewelry and scarves. The fakes, which came from China, would have been worth a total of $3.09 million had they been genuine.
- On December 6, 2021, a garment importer based in downtown Los Angeles was sentenced to 12 months and one day in federal prison for scheming to undervalue imported garments and avoid paying duties to the United States, and failing to report income on tax returns and large cash transactions to the federal government.
- On December 13, 2021, Chris Magnus was sworn in as Commissioner of United States Customs and Border Protection following his Senate confirmation last week. Magnus becomes the fifth confirmed CBP Commissioner since the law enforcement agency’s creation under DHS in 2003.
- CBP has reorganized all Informed Compliance Publications (ICPs) on CBP.gov under each applicable Center of Excellence and Expertise.
- U.S. Customs and Border Protection is modernizing the ACE Secure Data Portal over multiple phases in 2022. The modernization effort will entail the transition of existing functionality to an upgraded platform, offering […]