The EU extended its steel safeguard measure until June 30, 2026, the European Commission's Directorate-General for Trade announced. The measure imposes tariff rate quotas "above which a 25% duty is levied on imports." The TRQs were imposed in response to the U.S. Section 232 measures.
Exports to China
The House Appropriations Committee on June 25 unveiled a FY 2025 Commerce-Justice-Science Appropriations Bill that would provide $186.7 million to the Bureau of Industry and Security, $4.3 million below the FY 2024 enacted level and $36.7 million below President Joe Biden’s budget request.
The Biden administration is close to issuing a new national security memorandum on artificial intelligence, which is expected to address technology security issues surrounding advanced AI models and related software, National Security Council officials said this week.
The EU this week unveiled its 14th sanctions package against Russia for its war on Ukraine, including new due diligence rules for companies with counterparties that may be selling to Russia. The package also includes new measures to prevent sanctions evasion, new import and export controls, a set of servicing restrictions on certain Russian energy shipments, designations of more than 100 people and entities, and more.
The House of Representatives this week plans to consider a bill that would impose sanctions on foreign persons who engage in or facilitate forced organ harvesting in China. Rep. Scott Perry, R-Pa., introduced the Falun Gong Protection Act in June 2023 (see 2306160009), and the House Foreign Affairs Committee approved it on a 33-0 vote later that month (see 2306260022).
The Treasury Department last week issued a set of proposed regulations that could introduce new prohibitions and notification requirements on U.S. investments in China, Hong Kong and Macau as the Biden administration works toward finalizing the new rules before year-end (see 2405080039). The proposed rule, which builds on an advance notice of proposed rulemaking Treasury issued in August (see 2308090066), outlines how the agency would implement new bans on certain types of outbound American investments in China’s semiconductor, quantum and artificial intelligence industries, as well as notification requirements for other, broader investments in China’s chip and AI sectors.
The Treasury Department this week sanctioned eight people with ties to the Mexico-based La Nueva Familia Michoacana drug cartel and issued a new advisory to help banks stop transactions linked to sales of fentanyl and other illegal drugs.
The House Select Committee on China is creating a working group to address China’s role as the world’s leading supplier of precursor chemicals for fentanyl, committee Chairman John Moolenaar, R-Mich., said in a statement June 20. Reps. Dan Newhouse, R-Wash., and Jake Auchincloss, D-Mass., will lead the new group. A report the committee released in April said that Congress should approve tougher sanctions and import restrictions to stem the flow of fentanyl into the U.S. (see 2404160039). Many of the new measures recommended in the report would be aimed at China.
A bipartisan group of 41 House members urged the Biden administration this week to “expeditiously implement” and “fully utilize” newly enacted authorities for sanctioning Iranian oil.
A new strategy by the Bureau of Industry and Security to add a set of addresses -- instead of company names -- to the Entity List could lead to screening challenges for exporters, industry officials told the agency this week.