On April 18, 2020, President Donald J. Trump signed an Executive Order authorizing the Secretary of the Treasury to provide relief to certain U.S. businesses, including critical supply chains for U.S. manufacturers, during the COVID-19 pandemic. Pursuant to this authority, the Treasury Department and Customs and Border Protection today are issuing a joint Temporary Interim Final Rule providing […]
International Trade
As Trump Signs USMCA, DOL Launches Grant Program for Mexico
As President Donald Trump put his signature to the new United State-Mexico-Canada Agreement (USMCA), his Labor Department was announcing a new grant program to help Mexico improve its labor practices as the new trade treaty requires. The U.S. Department of Labor said it will provide up to $27.2 million for effective enforcement of Mexico’s labor […]
Crackdown Coming on Sales of Counterfeit, Pirated Goods
The Department of Homeland Security (DHS) released its first report on combating trafficking in counterfeit and pirated goods, indicating it’s ready to crack down on bad actors. The department sent President Donald Trump the first-ever report, which outlines a series of recommendations and actions that can be taken by both the federal government and industry […]
USMCA: What’s in it for Small, Medium-sized Businesses
The new trade agreement with Mexico and Canada is the first to include a chapter dedicated to small- and mid-sized enterprises (SMEs), according to Barbara Weltman. She unpacks The United State-Mexico-Canada Agreement (USMCA) at her Big Ideas for Small Business blog and lists a number of the changes that will impact SMEs the most. “The […]
New Rules for Taxing Foreign Income, Claiming Foreign Tax Credit
WASHINGTON — The Internal Revenue Service issued final regulations (PDF) Monday on the Foreign Tax Credit, a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign governments. The Tax Cuts and Jobs Act (TCJA) made major changes to the tax law, including revamping the […]