In addition to loyalty to the president-elect, the president's cabinet nominees appear all to agree with his thinking on geoeconomics and the role of brinksmanship. During the 119th Congress, the Trump administration will be unencumbered by judicial or congressional restraint, and the new team’s stated intent is to make full use of that accommodation.
Thursday the U.S. House of Representatives overcame Democratic resistance and passed legislation that strips U.S.-based organizations of their tax-exempt status if they are found by the White House to be "materially supporting terrorist organizations." The Stop Terror-Financing and Tax Penalties on American Hostages Act (H.R. 9495) passed 219-184, with 15 Democrats breaking ranks in favor.. While stripping tax subsidies from Jihadists has robust congressional support, opponents cite apprehensions about the bill’s implications for civil liberties, due process, and the potential for executive overreach.
The Regulations and Procedures Technical Advisory Committee (RPTAC) will meet on December 10, 2024, 9 a.m.-4 p.m., Eastern Daylight Time, in the Herbert C. Hoover Building The Committee advises …
Deep in the 782 Page annual doorstop prepared by the commission are sections of interest on export controls and the regulation of outbound investment.
Assistant Secretary for Investment Security Paul Rosen addressed the Third Annual Committee on Foreign Investment in the United States (CFIUS) Conference on November 18 at the Treasury Department. In his remarks, Rosen outlined significant progress in compliance, enforcement, and efficiency within CFIUS processes, while emphasizing the committee’s critical role in safeguarding U.S. national security. "We have also been paying particular attention to the role of limited partners in investment funds," he noted." In the same way that financial institutions are obligated to “know your customer,” I often tell businesses seeking funding they should know their investor – because CFIUS certainly will"
The U.S.-China Economic and Security Review Commission (USCC) has officially submitted its 2024 Annual Report to Congress,. The report, unanimously approved by the Commission’s 12 members, although Dr. Cleveland inserted an addendum witholding her support for two of the reccomendations.
The Defense Trade Advisory Group (DTAG) will meet in open session from 1 p.m. until 5 p.m. on Wednesday, December 4, 2024. This meeting will be held virtually via Zoom or Webex. The virtual forum …
The U.S. Department of Defense, alongside the Australian and UK defense ministries, announced an agreement under AUKUS Pillar II to advance hypersonic vehicle testing through the Hypersonic Flight Test and Experimentation (HyFliTE) Project. This collaboration allows shared use of testing facilities and technical data to develop hypersonic systems.
Multilateral conferences on Climate and Biodiversity held this month have yielded little progress, casting a further pall on the sprits of the more impacted countries and concerned stewards of God's creation. The COP29 Climate meeting in petrostate Azerbaijan and the companion COP16 Biodiversity Summit in Colombia failed to make substantive progress and saw little participation, let alone leadership from the United States.
Nippon Steel does not rule out lawsuit if U.S. Steel deal nixed, CEO says Japan Times Reports. If the deal falls through without a legitimate reason or proper procedures, the Japanese steelmaker would consider suing the U.S. government, CEO Eiji Hashimoto says. United Steelworkers union rank and file are calling for more credible negotiation than conducted so far by USW International President David McCall.
Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a 60-day notice in the Federal Register concerning the form that select real estate professionals will use to report information about certain residential real estate transfers under the Residential Real Estate Rule.
Washington spent the week evaluating the President-Elect's cabinet picks, with responses ranging from relief and appreciation to "vomit in the mouth." Senator John Thune will be the Senate Majority Leader, and while the House of Representative does not name its leader until January,, Speaker Mike Johnson is expected to retain his gavel.
Thursday the Department of Homeland Security (DHS) released the "Roles and Responsibilities Framework for Artificial Intelligence in Critical Infrastructure" , a set of recommendations aimed at the safe and secure development of AI in critical infrastructure. The Framework was developed collaboratively by entities involved in each layer of the AI supply chain, including cloud providers, AI developers, infrastructure operators, civil society, and public sector entities.
Chairman John Moolenaar (R-MI) of the House Select Committee on the Chinese Communist Party has introduced the the ‘Restoring Trade Fairness Act," laying the groundwork for revoking China's Permanent Normal Trade Relations status.
In an effort to spur readiness in the west's inadequate icebreaker fleet, the polar states of Canada, the US and Finland have agreed to pool resources and expertise . The operational USCG polar fleet currently includes one heavy icebreaker commissioned in 1976 and one medium icebreaker commissioned in 2000. Russia's Atomflot operates a fleet of seven nuclear icebreakers, with a further five under construction or planned.
The Export-Import Bank of the United States (EXIM) commemorated its 90th anniversary with substantial growth, announcing $8.4 billion in authorized deals for Fiscal Year 2024, supporting "around 38,000 U.S. jobs," according to a statement. The terms of Ms. Lewis, Vice Chair Judith Pryor and Board Member Owen Herrnstadt expire January 20, 2025. These three seats, plus one vacancy must be filled by the president, with the consent of the Senate, The term of former Alabama Congressman Spencer Bachus ends in 2027.
The proposed rule aims to prevent foreign adversaries from gaining access to sensitive personal data through various commercial transactions, such as data sales, employment agreements, or investments. To enforce the new regulations, the proposed rule includes mechanisms for issuing licenses for otherwise prohibited transactions under strict conditions. It also sets up a compliance regime to ensure adherence to the rules, with provisions for recordkeeping and reporting to support DOJ investigations.
A change of regime in Washington may change the degree of sanctions pressure on Russian Arctic gas projects, though the ultimate decider remains the economics. With the White House encouraging production and exports of domestic LNG, the incentives to make it easier for the Moscow regime to sell their gas may not be that pronounced. Russia's Arctic LNG 2 project, spearheaded by Novatek, seeks to export nearly 20 million tons of liquefied natural gas annually to Europe and Asia. Strategically located on the Gydan Peninsula, it aims to leverage the Northern Sea Route to cut transit times. However, Western sanctions, particularly under the Biden administration, have constrained Russia’s ability to capitalize on its Arctic resources by limiting access to technology and financing.
Former President Donald Trump’s decisive victory in his bid to win a second term creates both uncertainty and opportunity for US trade policy, according to analysts and experts. Speculation is rampant on the outcomes for Tariffs, FTAs, Climate Policy and The WTO along with fresh scrutiny of AML/CFT regulation and Nuclear proliferation.
Major changes are likely next year when Republicans take control of the Senate, especially on the Senate Finance Committee. Sen. Mike Crapo ®-Idaho) is next in line to chair Finance, replacing current Chairman Ron Wyden (D-Ore). There will be new faces on the committee, as well, given that Republicans will gain seats. In addition, some of the panel’s senior Democrats will be missing. Sens. Debbie Stabenow (D-Mich), Tom Carper (D-Del) and Ben Cardin (D-Md) are retiring at the end of this Congress. Sen. Sherrod Brown (D-Ohio) lost his bid for reelection.