Trade & Export

FAR Council Proposes Rule Restricting Covered Semiconductor Products

The FAR Council has proposed a rule to implement Section 5949 of the FY 2023 NDAA, restricting federal agencies from procuring products or services containing certain covered semiconductor products from designated entities. The proposal includes requirements for contractor inquiry, certification, and potential reporting.

Podcast: UK vs. U.S. Investment Screening Regimes

Wiley Rein LLP published a podcast discussing the differences between the UK's investment screening regime under the National Security and Investment Act and the U.S. CFIUS program. The podcast features insights on evolving national security concerns and practical advice for businesses involved in cross-border investments.

EC Seeks Technical Advice on Taxonomy Regulation Disclosures

The European Commission has requested technical advice from the European Supervisory Authorities (ESAs) on key performance indicators (KPIs) for the Disclosures Delegated Act under the Taxonomy Regulation. The EC aims to review and simplify taxonomy reporting, with advice due by October and potential amendments targeted for Q1 2027.

Supreme Court Ruling on IEEPA Tariffs Impacts Duty Refund Process

The Supreme Court has ruled against the use of the International Emergency Economic Powers Act (IEEPA) for enacting tariffs. While the ruling entitles importers to refunds, a specific process is still being developed by U.S. Customs and Border Protection (CBP) and the Court of International Trade (CIT). CBP is working on an ACE functionality to streamline refunds, with a target deployment in 45 days.

Third-Party Arbitration Funding: Turmoil and Growth in 2025

A March 2026 article discusses the turbulent year for third-party arbitration funding in 2025, noting industry consolidation and a significant fraud suit. Despite challenges, the sector saw continued international arbitration claims, with 7% of new ICSID cases in 2025 involving funders.

Yukos Enforcement: ICSID vs. New York Convention Award Approaches in England

The English Commercial Court, in Hulley Enterprises Ltd & Ors v. The Russian Federation, granted enforcement of ICSID awards but declined to enforce costs and interest-on-costs components of New York Convention awards related to the Yukos arbitrations. This decision highlights differing judicial gatekeeping approaches for ICSID and New York Convention awards in England.

EU Proposes Industrial Accelerator Act with "Made in EU" Requirements

The European Commission has proposed the Industrial Accelerator Act (IAA) to bolster the EU's industrial base and boost demand for EU-manufactured products. The act introduces "Made in EU" requirements across strategic sectors, aiming to reduce dependencies and increase manufacturing's share of EU GDP.

EU Statement on Countries Aligning with Terrorist List Update

The EU has issued a statement noting that several non-EU countries have aligned with a recent Council Decision updating the EU's terrorist list. This alignment means these countries will conform their national policies to the updated list of individuals and entities subject to restrictive measures.

EU Statement on Restrictive Measures Against Terrorism

The EU has issued a statement regarding Council Decision (CFSP) 2026/455, which updates restrictive measures to combat terrorism. This decision repeals previous articles and expands the scope for imposing measures against individuals and entities associated with terrorist acts.

European Council Invitation: Middle East, Ukraine, Competitiveness, MFF

European Council President António Costa has invited members to a meeting on March 19-20, 2026, to discuss the Middle East escalation, Ukraine, strategic competitiveness, the Multiannual Financial Framework, defense readiness, and migration. The invitation outlines key agenda items and the urgency of coordinated responses.