On August 25, U.S. Customs and Border Protection (“CBP”) issued a draft Federal Register notice to effectuate the President’s Executive Order (“EO”) on “Addressing Threats to the United States by the Government of the Russian Federation,” which imposed additional tariffs on imports of Indian origin due to India directly or indirectly importing Russian oil. Under these new tariffs, imports of most goods of Indian origin will be subject to an additional 25% duty, effective August 27, which will stack…
On August 21, 2025, the European Union and United States unveiled their Framework on an Agreement on Reciprocal, Fair, and Balanced Trade (“Framework”). The Framework follows, and provides further detail to, the July announcement that the European Union and United States had agreed on broad terms of a trade deal. The Framework outlines the key terms of the trade deal that will be negotiated between the parties, and is a first step in a process…
On July 1, 2025, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published the International Criminal Court-Related Sanctions Regulations to implement Executive Order (“EO”) 14203, “Imposing Sanctions on the International Criminal Court”, issued on February 6, 2025. EO 14023 authorized sanctions on foreign persons engaged in certain efforts by the International Criminal Court (“ICC”) to target the United States and Israel. EO 14023 In EO 14203, President Trump finds that the ICC…
On Friday, May 16, 2025, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) and Switzerland’s State Secretariat for Economic Affairs (“SECO”) issued a joint Memorandum of Understanding (“MOU”) in regard to the United States and Switzerland’s commitment to collaborate and share information related to sanctions and enforcement which was signed on May 9, 2025. The notice is published on OFAC’s website here. The MOU provides that information sharing between the United States and…