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On December 2, 2024, the Department of Commerce, Bureau of Industry and Security (BIS) issued a new set of regulations targeting semiconductors manufacturing equipment (SME) and high-bandwidth memory (HBM) chips. The updates are a part of BIS’s ongoing efforts to target semiconductors in attempt to slow down China’s advancement of AI. In the race to artificial general intelligence, advanced-node semiconductors play an outsized role in a country or company’s ability to progress.Continue Reading The Persistence of (High Bandwidth) Memory: Semiconductor Manufacturing Equipment and Korean Semiconductor Manufactures Face Harsher Restrictions Under New HBM Rules

On September 13, 2017, the EU Commission released a proposed regulation establishing a framework for screening Foreign Direct Investments (FDI) in Europe. Several EU Member States have already implemented national mechanisms enabling them to intervene in transactions that the States believe endanger their national interest. However, there is no harmonized regime for reviewing FDI into the EU other than the EU Merger Regulation (EUMR). The EUMR focuses only on competition and does not take into account security or public order concerns. This new proposal addresses the more political notion of “national security”.
Continue Reading CFIUS for Europe? New Screening of Foreign Direct Investments in Europe

On June 19, Commerce Secretary Ross mentioned at a Wall Street Journal CFO dinner that the Administration is now considering launching an investigation of semiconductor imports under Section 232 of the Trade Expansion Act of 1962. Ross said the specific concern is the threat of China to surpass U.S. semiconductor production.
Continue Reading Dinner Table Conversation: How an Offhand Comment May Signal a Shift in the Global Trade of Semiconductors

On July 16, the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) imposed new sanctions against Russia, which target the country’s financial, energy and defense sectors.  In a parallel action, the U.S. Department of Commerce, Bureau of Industry and Security (BIS) added 11 parties to its Entity List based on their role in the destabilization of eastern Ukraine and the ongoing occupation of Crimea and Sevastopol.
Continue Reading CLIENT ALERT: United States Imposes New Sanctions and Export Restrictions Against Russian Banks, Companies, and Individuals

By: Reid Whitten

The European Union and United States comprise 40% of global economic output and the trade relationship between them is the largest in the world. Tariffs between the two partners are already low (only 4% on average) and the long-lived peaceful commerce across the Atlantic has held on through boom and bust.  So if trade agreements aim to free up the flow of trade between regions and increase economic activity and wealth on both sides, what policy change could promise potential gains of nearly $200 billion shared between the two economies?…
Continue Reading Gentlemen, Start Your Engines: The Race for Riches in U.S.–EU Trade Begins with a Mandate from the European Commission

By: Reid Whitten

On February 25, 2013, the Chinese state oil company, CNOOC, closed a $15.1 billion deal to take over Canadian oil company, Nexen.  Along with interests in the Canadian oil sands of Alberta and offshore production in west Africa and the North Sea, CNOOC will acquire more than 200 drilling leases in the Gulf of Mexico, a primary source of U.S. oil.  According to Nexen, its existing assets in the area include facilities producing more than 15,000 barrels of oil per day in 2012, with notable exploration potential for future growth.…
Continue Reading Pay Attention to the Man Behind the Curtain: The Mysterious Methods to CFIUS Approval

By: Thaddeus McBride and Cheryl Palmeri

In a Federal Register Notice dated December 19, 2011, the U.S. Department of State announced proposed changes to 22 C.F.R. part 129 and related provisions of the International Traffic in Arms Regulations (ITAR) that regulate brokers and brokering activities.  State is accepting comments on the proposed rule until February 17, 2012.  The exporting community has been awaiting these amendments for several years, and while providing some clarification as to broker registration and approvals, the amendments are pretty modest. …
Continue Reading State Department (Finally) Proposes Amendments to ITAR Brokering Provisions