The Commerce Department is seeking public comments on an information collection involving its annual survey of foreign direct investment in the U.S. The survey provides “reliable, useful, and timely measures” of FDI to the government to allow it to assess the impact of the investment on the U.S. economy. In a change made last year, the survey’s BE15A form will no longer include the “expensed petroleum and mining expenditures item.” Commerce said the item “is not a good fit conceptually as a component of property, plant, and equipment (capital) expenditures.” Comments are due Oct. 10.
The State Department's Directorate of Defense Trade Controls recently posted a name change notice for Nitec (UK) Ltd. and waived the requirement for amendments to change approved license authorizations because of the “volume” of authorizations requiring amendments to reflect the change, DDTC said. Nitec was changed to CBE Plus Ltd. New license applications received after Sept. 3 that identify the old name “will be considered for return without action for correction.”
U.S. carrier Network Shipping Ltd. (NWS) violated U.S. shipping regulations when it failed to provide chassis for certain shipments and instead unfairly provided those chassis to its parent company, a produce distributor, multiple produce importers and exporters said in an August complaint to the Federal Maritime Commission. The companies said they suffered $2 million in damages and costs "in connection with dumping, inspection, transportation, and lost sales of the perished cargo" due to NWS' actions, the report said.
The Animal and Plant Health Inspection Service is seeking comments on an information collection involving the U.S. Origin Health Certificate for exports of animals and animal products. The agency said export of "agricultural commodities, including animals and animal products, is a major business in the United States and contributes to a favorable balance of trade," and APHIS "maintains information regarding the import health requirements of other countries for animals and animal products exported from the" U.S. Comments are due Oct. 3.
The State Department approved a potential $395 million sale to Finland, which includes an “M270A2 Multiple Launch Rocket System” upgrade and related equipment, the Defense Security Cooperation Agency said Aug. 1. The principal contractors will be Lockheed Martin, Chelton, Leonardo DRS and Loc Performance Products.
The Committee on Foreign Investment in the U.S. is reaching out to companies to warn them of a recent frequently asked question from May that may create “significant obstacles” for tech startups and others trying to raise capital, Wilson Sonsini said in a client alert last week. The CFIUS guidance clarified that the completion date of a transaction is the date when the foreign person obtains any equity interest in the U.S. business, and law firms at the time warned the clarification could lead to problems for parties that for years relied on "springing rights" for minority investments -- deals that allow an investor to acquire equity but not in a way that would make their stake a covered transaction under CFIUS (see 2305300058).
The Bureau of Industry and Security extended by 30 days the public comment period for an information collection involving its five-year records retention requirement for export transactions and boycott requests. Companies must keep records related to exports and boycott actions for that time frame to “preserve potential evidence for investigations.” Comments had been due June 5 (see 2304040013).
Canada's International Longshore and Warehouse Union (ILWU) and the British Columbia Maritime Employers Association (BCMEA) reached a new tentative labor agreement days after ILWU members voted against the previous tentative deal, ILWU Canada and BCMEA announced July 30. BCMEA said both sides are again "recommending ratification of the collective agreement to the union’s membership and member employers."
The Biden administration needs a more “credible, durable economic strategy” in the Indo-Pacific than the Indo-Pacific Economic Framework, such as one that involves formal trade agreements, said Matthew Goodman, senior vice president for economics at the Center for Strategic and International Studies. In a July 31 commentary for CSIS, Goodman, a former National Security Council official, said IPEF’s “greatest promise” is “as an incubator for new or revised provisions of a formal trade agreement in the Indo-Pacific region,” including one that includes new or updated chapters on labor, environment, digital standards, supply chain resilience and economic coercion.
USDA’s Agricultural Marketing Service is seeking public comments as it looks to renew an information collection relating to record-keeping requirements for certain fruit export regulations. The law states fresh apples and grapes grown in the U.S. and shipped to any foreign destination must meet minimum quality and other requirements established by the Export Apple Act and the Export Grape and Plum Act, which are designed to promote fruit exports and “prevent deception or misrepresentation of the quality of such products moving in foreign commerce,” USDA said. Comments are due Oct. 2.