Event 14 Oct. 2022
Curtis Provides Capacity Training to the Government of Uganda
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Event 21 Sep. 2022
Kalidou Gadio Speaks at AIEN 2022 International Energy Summit
News 15 May. 2023
Curtis represents e-commerce retailer in its fight to recover monies withheld by PayPal, the global payment giant
News 16 Dec. 2022
Curtis Trade Team is top ranked in Chambers Asia-Pacific 2023
Event 08 May. 2023
Partner Irene Petrelli to Participate in ICC YAAF Event
News 02 May. 2023
Curtis Italy with DeA Capital in the Acquisition of Magic S.r.l
Event 23 May. 2023
Partners Luciana Ricart and Fernando Tupa Will Teach a Workshop on Hearings in Investment Arbitration for Arbanza School of Arbitration’s Online Program
Publications 23 Feb. 2023
Fernando Tupa Publishes Book on Forum-Specific Consent to International Arbitration in Investment Agreements
Event 03 May. 2023
Dr. Borzu Sabahi to Speak at ICSID-ADGM Joint Conference: Investment Protection and Armed Conflict
Event 19 Mar. 2023
Sebastiano Nessi speaks at Bahrain Business and Legal Landscape Conference
Event 01 Jun. 2023
Curtis Environmental Chair Charles Howland to Moderate Panel Discussion on Latest Developments in Environmental Due Diligence at ABA Masterclass on Environmental Transactions
News 25 May. 2023
Curtis Files SCOTUS Amicus Brief for Distinguished Law Professors in First Amendment Retaliatory Arrest Case
News 06 Mar. 2023
Russia Sanctions at the First Anniversary: An Overview of Current Sanctions in the US, UK, and EU and How Global Companies Can Navigate Evolving and Conflicting Sanctions Regimes
Client Alert 30 Aug. 2022
The EU Adopts the “Maintenance and Alignment” Sanctions Package
Client Alert 24 Jun. 2021
Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
International Trade
The Trade Expansion Act of 1962 provided the President of the United States of America with new authority to cut (or impose) international trade tariffs. The ability to cut tariffs was only applicable for five years, while most of the rest of the legislation became a permanent feature of United States international trade policy. The Act would come into sharp international focus when President Trump relied on Section 232 of the Trade Expansion Act of 1962 to impose tariffs on steel and aluminum.
A Section 232 tariff refers to any tariff imposed pursuant to Section 232 of the Trade Expansion Act of 1962. The section permits the President of the United States, upon a recommendation from the Secretary of Commerce, to impose a tariff on any goods being imported in quantities or circumstances that threaten or impair national security.
Both Canada and Mexico are exempt from the current round of Section 232 tariffs on steel and aluminum. These nations are both members of the newly negotiated USMCA (United States, Mexico, and Canada Agreement), a free trade agreement formerly known as NAFTA (North American Free Trade Agreement).
Sections 301 through 310 of the Trade Act of 1974 are commonly referred to as “Section 301.” These sections permit an American president to impose or increase tariffs where a foreign country, in the opinion of the United States Trade Representative, engages in acts, policies, or practices that violate a trade agreement or burden or restrict US commerce.
Section 301 works by the United States Trade Representative beginning a “301 investigation.” The USTR has 12 to 18 months to seek a negotiated resolution with the nation allegedly engaging in practices that contravene Section 301. At the end of that period, retaliatory measures, like the imposition of tariffs, may be undertaken. In cases where a trade agreement is involved, the US must use the trade dispute mechanism found in the agreement.
A Section 301 action is any action under Sections 301 to 310 of the Trade Act of 1974 by the United States Trade Representative to address or retaliate against any act, policy, or practice of a foreign country that violates a trade agreement or burdens or restricts US commerce.
A Section 301 probe is another phrase for a Section 301 investigation. A Section 301 investigation is the first phase required for the eventual imposition of a Section 301 tariff. It occurs under the authority of sections 301 to 310 of the Trade Act of 1974 and is designed to uncover acts, practices, or policies that violate trade agreements or burden or restrict US commerce.
Daniel Porter
Partner
ITC Injury Proceedings
WTO and International Trade Dispute Settlement
Trade Remedy Practice
Economic Sanctions
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