Search Results for keywords:"International Emergency Economic Powers Act"

GPI Beauty, Inc. has notified the Foreign-Trade Zones Board about a plan to start production activity at its facility in Las Vegas, Nevada, located within Foreign-Trade Zone 89. The proposed production involves making plastic tube sleeves with caps, using materials like plastic bottles and glass bottles, which are subject to various import duties depending on their origin. Interested parties can submit comments on this proposal to the Board until April 21, 2025. Further information is available for public viewing on the Board's website or by contacting the assigned official.

The Financial Crimes Enforcement Network (FinCEN), part of the Treasury Department, is asking for public comments on their plan to renew a rule without changes. This rule requires U.S. banks to gather and report information about financial dealings with specific foreign banks that may do business with Iranian-linked institutions or people associated with the Islamic Revolutionary Guard Corps (IRGC). FinCEN's aim is to continue enforcing these information collections to help monitor and regulate financial activities, with the ultimate goal of preventing money laundering and terrorism financing. The request for comments is in line with efforts to reduce paperwork and examine the burden these regulations place on both U.S. and foreign banks.

The President has decided to continue the national emergency with respect to Iran for another year, after initially being declared on March 15, 1995. This decision is based on ongoing threats from Iran, including its development of missiles and support for terrorism, which continue to endanger U.S. national security and foreign policy. The emergency, first declared under Executive Order 12957, is separate from another emergency regarding Iran that started in 1979. This notice will be published in the Federal Register and sent to Congress.

Merck, Sharp & Dohme LLC has submitted a proposal to the Foreign-Trade Zones Board for a production activity in their Rahway, New Jersey facility, which is part of Foreign-Trade Zone 49. The proposal outlines plans to manufacture various pharmaceutical products, including drugs for infectious and neurologic diseases, oncology, immunotherapy, and cardiovascular disease, using foreign materials. Some of these materials are subject to specific trade regulations depending on their country of origin. Public comments on the proposal are welcome until May 27, 2025, and those interested in more information can contact the Board or access documents on their website.

The Executive Order 14272 directs the U.S. Secretary of Commerce to investigate the national security impact of importing processed critical minerals and their derivative products. These materials are crucial for the economy and defense because they are used in important sectors like transportation and technology. The investigation will assess risks including the reliance on foreign sources that might be unstable, and it will explore measures like tariffs and incentives for domestic production. This action aims to ensure a resilient and secure supply chain for these vital materials.

The Office of Foreign Assets Control (OFAC) under the Department of the Treasury has issued a final rule to adjust civil monetary penalties for inflation, as required by law. This adjustment aims to maintain the deterrent effect of these penalties by reflecting changes in the cost of living. The updated penalties apply across various statutes like the Trading With the Enemy Act, the International Emergency Economic Powers Act, and others. The rule will be effective beginning January 15, 2025, and does not require prior public notice or comment.

RECARO Aircraft Seating Americas, LLC has informed the Foreign-Trade Zones Board of its plans to start a new production activity at its facility in Fort Worth, Texas, within Foreign-Trade Zone 196. This activity would involve using certain foreign materials like gas generators for airbag belts and electric storage batteries, and it has to follow specific regulations due to import duties. Public comments are invited until May 21, 2025, and the notification can be inspected online. For more information, one can contact Juanita Chen at the provided email address.