OFAC Authorizes Expanded Oil Activities in Venezuela

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued new General Licenses (GLs) expanding authorizations for U.S. persons involved in Venezuela's oil and gas sector. These licenses permit a wider range of transactions related to oil extraction, export, and services, aligning with a broader U.S. strategy to relax sanctions.

Responsible Business Insights for 2026

Morrison & Foerster LLP and BSR released Episode 25 of their conversation series, discussing key themes in responsible business from 2025 and offering insights for businesses in 2026. The discussion covers driving measurable impacts amid regulatory complexity and emerging risks and opportunities.

USDA Reverses Cotton Import Fee Decrease

The USDA's Agricultural Marketing Service has withdrawn a direct final rule that would have decreased cotton import fees. Due to significant adverse comments, the fees will remain unchanged, continuing the previous assessment rate.

UK Consults on Securitisation Framework Changes

The UK's FCA and PRA have published consultation papers proposing significant changes to the securitisation framework. The proposals aim to replace prescriptive due diligence requirements with a more principles-based approach, potentially impacting how investors assess credit risk, risk retention, and information availability. The consultation period is open for feedback.

Trade Report: Regulatory Dates and Deadlines

This trade report highlights upcoming regulatory deadlines and events for the week of March 2, 2026. Key dates include comment deadlines for AD/CVD investigations on citric acid, citrate salts, and fresh winter strawberries, as well as the effective date for electronic refunds from CBP. Additionally, new CITES documentation requirements for animal and plant shipments take effect.

Supreme Court Rules Trump Administration Lacked Authority to Impose Tariffs Under IEEPA

The U.S. Supreme Court ruled that the Trump administration did not have the authority under the International Emergency Economic Powers Act (IEEPA) to impose tariffs. This decision impacts importers and exporters who may be entitled to refunds for tariffs previously paid under this authority.

ITC Intellectual Property Rights Investigations

The International Trade Commission (ITC) has initiated new investigations into alleged patent infringement for beverage brewing products (337-TA-1485) and electronic nicotine delivery systems (337-TA-1486). New complaints were also filed concerning infotainment systems and solar cells.

Supreme Court Tariff Decision Impacts Construction Costs

A Supreme Court decision striking down some tariffs has been followed by new 15% tariffs, creating ongoing uncertainty for construction costs and material pricing. The article discusses the impact on the construction industry and legal tools for managing payment disputes.

AD/CVD Cases: Electrodes, Lawn Groomers, OCTG, Plywood, Wire Rod

The International Trade Administration and International Trade Commission have announced several actions in antidumping and countervailing duty cases involving products from China, India, Indonesia, Vietnam, Brazil, Japan, Korea, Mexico, Moldova, and Thailand. These actions include new investigations, determinations on existing orders, and adjustments to cash deposit rates.

Supreme Court Invalidates IEEPA Tariffs

The Supreme Court has ruled that the President lacks the constitutional authority under the International Emergency Economic Powers Act (IEEPA) to impose tariffs. The decision, in cases involving Learning Resources, Inc. and V.O.S. Selections, Inc., invalidates previously levied tariffs. Businesses that paid these duties are advised to consult legal counsel regarding potential refund options.