President Donald Trump this week ordered his administration to reduce regulatory restrictions around sales of weapons and other military items to U.S. partners, saying he wants to speed up foreign military sales and make the process more “transparent.”
House Select Committee on China ranking member Raja Krishnamoorthi, D-Ill., and 10 other committee Democrats urged the Commerce Department April 9 to reconsider its plans to pull back from traditional export control dialogues with allies, including the U.S.-EU Trade and Technology Council (TTC).
Landon Heid, President Donald Trump’s nominee to be assistant secretary of commerce for export administration (see 2502120020), said April 10 that he wants the Bureau of Industry and Security to wage a “continuous battle every single day” to prevent China from obtaining restricted U.S. technology.
Exporters and other companies could start seeing an uptick in government subpoenas as the Bureau of Industry and Security looks to increase export penalties, industry officials said this week, adding that businesses should make sure they’re scrutinizing transactions and watching for red flags.
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A key European Parliament committee this week voted 31-7, with three abstentions, to expand the bloc’s foreign direct investment screening rules, a move that could add more sectors to the scope of FDI restrictions and allow the European Commission to intervene in member state disagreements.
The U.S. executive branch has “really good authorities” to restrict exports of advanced computing chips but should improve how it wields them to prevent China from exploiting loopholes, a technology policy researcher told a congressional panel April 8.
Even if the Trump administration were to lift U.S. sanctions against Russia, the country would still be “uninvestable” for multinational companies because of the EU’s trade and financial restrictions, which would likely remain in place, said Janis Kluge of the German Institute for International and Security Affairs.
President Donald Trump has ordered the Committee on Foreign Investment in the U.S. to carry out a 45-day review of Japan-based Nippon Steel Corp.’s proposal to purchase U.S. Steel, months after former President Joe Biden blocked the deal (see 2501060040).
The U.K. Office of Financial Sanctions Implementation released a threat assessment about possible sanctions violations by legal services providers, noting that since February 2022, the legal services sector has accounted for the second-highest number of suspected breach report submissions to OFSI. Legal services accounts for 16% of all submissions, behind first-place financial services with 65% of submissions.