The Senate on April 23 plans to begin considering a House-passed bill that would ban TikTok in the U.S. unless China’s ByteDance divests the popular social media application (see 2404180020).

A now-defunct Thai trading company will pay $20 million to settle charges that it violated Iran sanctions by selling high density polyethylene resin made in Iran to East Asian customers in U.S. dollars, the Office of Foreign Assets Control said April 19 in an enforcement release.

U.S. defense companies plan to closely monitor the implementation of the International Traffic in Arms Regulations (ITAR) exemption for Australia and the U.K. to ensure it meets its promise of reducing licensing burdens for defense trade, industry representatives told a congressional panel last week.

After October's deadline passed without an agreement between the U.S. and the EU on a global trade deal for steel and aluminum (see 2404040034), talks are still ongoing, the European Commission’s top trade official said during a news conference April 18.

The U.S. announced on April 18 a new package of export controls and sanctions against Iran and its activities that support Russia’s war effort, in retaliation for Iran’s attack five days earlier on Israel.

The Bureau of Industry and Security is “significantly reducing licensing requirements” for Australia and the U.K. “to foster defense trade and technological innovation” under the Australia-U.K.-U.S. (AUKUS) Enhanced Trilateral Security Partnership, it said in an April 18 news release.

U.S. Trade Representative Katherine Tai gave testimony April 17 to the Senate Finance Committee regarding President Joe Biden’s 2024 trade policy agenda. She touched mainly on trade deal enforcement, U.S. exporters’ access to new markets and the USTR’s new stance on digital trade, though she also discussed issues such as forced labor and the upcoming legislation on the Generalized System of Preferences benefits program.

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Congress should approve tougher sanctions and import restrictions to stem the deadly and illegal flow of fentanyl into the U.S., the House Select Committee on China said in a new report April 16.

The Bureau of Industry and Security recently met with a group of industry and university officials to hear about challenges plaguing export compliance professionals, including problems doing due diligence on foreign parties, lengthy timelines for export license applications and more.