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Member News
Member News
07
Aug
Caroline Froger-Michon & Christopher Jordan | CMS
We can no longer imagine our professional lives without modern information and communication technology. It is common for employers to provide employees with technology such as smartphones or notebooks. These communication and productivity tools are also used for social media – in both business and personal use – and are often not switched off by employees, even in their leisure time. Employees receive e-mails and calls in the evenings, on weekends, and during...
07
Aug
By Iulian Sorescu & Bogdan Nicolae Paunescu | Noerr
On 3 July 2019, the Ministry of Public Finances published two draft amendments of state aid legislation, specifically the state aid scheme governed by G.D. 807/2014 on investment in assets and the state aid scheme governed by G.D. 332/2014 on job creation.
Several amendments have been proposed and are waiting to be approved by the Ministry of Public Finances after discussions with the private sector. Here are the most important ones:
G.D. 807/2014...
06
Aug
The U.S. dollar took advantage of a rare calm in trade tensions and rose against a number of its rivals overnight. Still, the Dollar Index is flirting with a fourth day of losses. In response to surprise tariffs announced last week, China allowed their currency to devalue past 7 yuan per dollar, which is largely seen as a “line in the sand.” The move roiled markets and caused American equities to dump 3% of their value yesterday. After stock...
02
Aug
President Trump announced today that the fourth list of products from China subject to additional duties will go into effect September 1, 2019.
On May 13, 2019, the U.S. Trade Representative (“USTR”) issued a proposed List 4 which threatens to impose additional tariffs of on “essentially all” Chinese products imported into the U.S. that were not covered by previous section 301 pronouncements valued at approximate $300 million. Today, President Trump announced in a Tweet that 10% additional duties will be imposed on these...
02
Aug
Key Events This Week
Germany refuses to join US Persian Gulf mission
Germany has refused a request from the United States to join their mission in the Persian Gulf. Foreign Minister Heiko Maas said it was “out of the question” that Germany would take part. The Germans are in close contact with the French, and Maas views the US strategy of “maximum pressure” as wrong, preferring to rely on diplomacy to deescalate the situation.
Tensions have been rising between the United States...
01
Aug
By Thompson Hine International Trade
On July 30, 2019, JSW Steel (USA), Inc. (JSW) filed a complaint against the United States and, specifically, the Department of Commerce (Department) for denying its product exclusion requests for certain steel imports that otherwise are subject to a 25 percent tariff under President Donald Trump’s March 2018 proclamation implementing such tariffs under Section 232 of the Trade Expansion Act of 1962.
The complaint seeks declaratory relief from the U.S. Court of International Trade (CIT) determining that the Department’s...
01
Aug
August 2019 FX OutlookAfter falling against all the major currencies in June, the US dollar rebounded in July. The Dollar Index finished the month at new two-year highs with the Fed’s suggestion it was engaged in a mid-course correction rather than a sustained easing cycle. The dollar also appeared buoyed by the extent of the dovishness by the ECB and the heightened risks that the UK leaves the EU at the end of October without an agreement. Short-term interest...
01
Aug
Tariffs under Section 232 of the Trade Expansion Act of 1962 and Section 301 of the Trade Act of 1974 have been imposed on imports since as early as March 23, 2018. Exemptions from the tariffs are available, and importers should consider implementing strategies to maximize potential recovery of the duties they have paid.
Section 232 duties
Section 232 duties on importations of steel and aluminum products went into effect on subject products on March 23, 2018 or June 1, 2018,...
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