On August 6, 2020, President Trump signed executive orders imposing new economic sanctions under the International Emergency Economic Powers Act (50 U.S.C. § 1701 et seq.) and the National Emergencies Act (50 U.S.C. § 1601 et seq.) against TikTok, a video-sharing mobile application, and WeChat, a messaging, social media and mobile payments application.
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Trump Administration
90-Day Tariff Relief Provides Retailers with Much-Needed Liquidity
Importers that have suffered “significant financial hardship” due to COVID-19 may qualify for a 90-day pay extension for certain tariffs. On April 19, 2020, following calls for trade liberalization to ease economic pressures, the Trump administration issued an executive order, along with a temporary final rule by the US Department of Homeland Security’s Customs and Border Protection, which postpones the time to deposit certain duties, taxes and fees. However, the 90-day pay extension is limited in scope and certain goods are not eligible for the extension.
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Recall Roundup: September
This past month, several key recalls were made that affect the retail industry. Check back here each month for our Recall Roundup.
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SCOTUS Tax Ruling and New Tariffs Could Affect Retail M&A Activity
A recent Supreme Court ruling regarding sales taxes and new tariffs on Chinese imports instituted by the Trump administration will impact many retailers, which could in turn have an effect on M&A activity in the retail industry.
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Recall Roundup: June
This past month, several key recalls were made that affect the retail industry. Check back here each month for our Recall Roundup.
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Recall Roundup: May
This past month, several key recalls were made that affect the retail industry. Check back here each month for our Recall Roundup.
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FTC Nominees Confirmed by Senate
On April 26, 2018, the U.S. Senate confirmed by unanimous consent all five pending nominees to the Federal Trade Commission.
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President Trump Sends Four FTC Nominees to Senate for Approval
Recently, President Trump announced that he sent names of four nominees to serve as commissioners on the five-member FTC to the Senate for approval.
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Recall Roundup: January
This past month, several key recalls were made that affect the retail industry. Check back here each month for our Recall Roundup.
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Recall Roundup: December
Join us as we look back at recalls from 2017. Check back here each month for our Recall Roundup.
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