In the July 30, 2004 Federal Register, an Executive Order (EO), an interim rule, and a final rule were published in order to, among other things, set forth changes to the U.S. government's export, reexport, and licensing policies with respect to Iraq.
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The Journal of Commerce Online reports that Congress is expected to consider the 9-11 Commission's recommendations on cargo security when it returns for hearings on implementing the recommendations from the Commission's recently released report. (JoC Online, dated 07/29/04, www.joc.com)
The Departmental Advisory Committee on Commercial Operations of the Bureau of Customs and Border Protection (COAC) held a quarterly meeting on June 18, 2004 in Washington, DC to discuss and receive updates from U.S. Customs and Border Protection (CBP) and Department of Homeland Security (DHS) officials on various trade and customs issues.
The Department of Homeland Security (DHS) has announced that the Homeland Security Information Network-Critical Infrastructure (HSIN-CI) Pilot Program has been expanded to include critical infrastructure owners and operators and the private sector in Dallas, Seattle, Indianapolis and Atlanta. According to DHS, HSIN-CI is an unclassified network for two-way information sharing which provides DHS' Homeland Security Operations Center with continuous access to a broad spectrum of industries, agencies and critical infrastructure across both the public and private sectors. (DHS press releases, dated 06/23/04, available at http://www.dhs.gov/dhspublic/archdisplay?theme=43,44,45,47&monthyear=062004)
On June 17, 2004, the House of Representatives passed H.R. 4520, the American Jobs Creation Act, by a vote of 251 to 178. H.R. 4520 would, among other things, repeal the Foreign Sales Corporation/Extraterritorial Income Act (FSC/ETI) tax regime (which has been found by the World Trade Organization to be illegal), reduce the top corporate tax rate for domestic manufacturers and small corporations, make certain Customs-related changes, etc. (The Senate passed its own version of this legislation, the Jumpstart Our Business Strength (JOBS) Act (S. 1637), on May 11, 2004. See ITT's Online Archives or 05/13/04 news, 04051399 1, for previous BP summary.)(House Ways and Means Committee press release, dated 06/17/04) available at http://waysandmeans.house.gov/news.asp?formmode=release&id=228.)
The Treasury Department's Office of Foreign Assets Control (OFAC) has issued a notice amending, effective May 20, 2004, appendix A to 31 CFR Chapter V to: (1) reflect the addition or removal, since it was last published, of the names of individuals and entities subject to the various economic sanctions programs administered by OFAC, and (2) provide updated identifying and clarifying information for certain individuals and entities included in appendix A. OFAC states that it is also amending the notes to the appendices to 31 CFR Chapter V to reflect the revisions to appendix A and changes in the status of several programs.
On May 11, 2004, President Bush signed Executive Order (EO) 13338 which implemented sanctions on Syria as a result of the Syria Accountability and Lebanese Sovereignty Restoration Act of 2003 (Public Law (P.L.) 108-175. EO 13338 entered into effect at 12:01 eastern daylight time on May 12, 2004.
On April 23, 2004, the Treasury Department's Office of Foreign Assets Control (OFAC) issued a general license (new 31 CFR 550.575) which lifts most of the economic embargo that has been in place against Libya since 1986.
The Bureau of Industry and Security (BIS) has issued an interim rule, effective April 29, 2004, that amends the Export Administration Regulations (EAR) to implement (1) President Bush's April 23, 2004, decision to revise U.S. sanctions against Libya; and (2) the transfer to BIS from the Treasury Department's Office of Foreign Assets Control (OFAC) of the licensing jurisdiction for exports to Libya of items subject to the EAR.
On April 23, 2004, the White House announced that President Bush has terminated the application of the Iran and Libya Sanctions Act with respect to Libya, and the Treasury Department's Office of Foreign Assets Control (OFAC) has modified sanctions imposed on U.S. firms and individuals under the authority of the International Emergency Economic Powers Act in order to, when implemented, allow the resumption of most commercial activities, financial transactions, and investments.