The Blank Rome International Trade Report: November 2024

Nov 15, 2024

By Anthony Rapa and Joanne E. Osendarp

The "BR International Trade Report: November 2024" by Blank Rome LLP provides insights into recent international trade developments, sanctions, and geopolitical risks that are impacting businesses both domestically and abroad. Here are the key takeaways from the November 2024 issue:

Reelection of Donald Trump:
- Former President Donald Trump has been reelected, becoming the second U.S. president to serve non-consecutive terms. His campaign promises included imposing significant tariffs on imports, particularly from China, which may lead to changes in international trade policies.
U.S. Department of the Treasury's Final Rule:
- The Treasury has finalized regulations controlling U.S. investments in critical technologies in countries of concern, particularly China. These regulations are set to take effect in January 2025 and will have significant implications for U.S. investors in the technology sectors.
Political Developments in Germany:
- Germany is facing political instability with the breakdown of the ruling coalition, leading to snap elections scheduled for February 2025. This may affect economic policies and international relations within the European Union.
Mexico's Challenge to U.S. Auto Import Ban:
- Mexico has raised concerns about a U.S. proposal to ban automobiles with certain connected hardware or software from China or Russia, arguing that it violates international trade agreements and could disrupt the automotive supply chain.
China's New Export Control Regulations:
- China has implemented new regulations on the export of dual-use items that could affect global supply chains. These rules extend Chinese jurisdiction over exports, re-exports, and even foreign products incorporating Chinese technology, mirroring aspects of U.S. export controls.

These developments reflect ongoing shifts in global trade policies, the political landscape, and regulatory environments, which businesses engaged in international operations must closely monitor and adapt to.
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Experts

Anthony Rapa

Partner, Blank Rome LLP

Anthony Rapa co-chairs Blank Rome’s International Trade group, with a focus on economic sanctions, export controls, and foreign investment review. A U.S./UK-qualified practitioner, he advises clients across various industries, including aerospace and defense, automotive, semiconductors, softwa...

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