Trade Blog

Trade Blog

U.S. Imposes Unprecedented Russia Sanctions

On April 6, 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced new sanctions against Russia by adding seven Russian oligarchs and 12 companies they own or control, 17 senior Russian government officials, the primary state-owned Russian weapons trading company and its subsidiary, a Russian bank, to its list of Specially Designated Nationals and Blocked Persons List (“SDN List”).

President Trump Announces Withdrawal from Iran Nuclear Deal

On May 8, 2018, President Trump terminated the U.S.’s participation in the Joint Comprehensive Plan of Action (“JCPOA”) with Iran and will begin re-imposing, following a wind-down period, the U.S. nuclear-related sanctions lifted under the JCPOA.

CHINA’S COUNTER-PUNCHES IN TIT-FOR-TAT RETALIATION AGAINST U.S. PROPOSED TARIFFS

In its latest salvo in the U.S.-China trade dispute, China has imposed a 178.6% tariff on sorghum imports from the U.S., claiming the U.S. is unfairly dumping sorghum on the Chinese market.