{"id":16830,"date":"2021-03-31T10:24:55","date_gmt":"2021-03-31T15:24:55","guid":{"rendered":"https:\/\/www.miq.com\/?p=16830"},"modified":"2021-03-31T10:24:55","modified_gmt":"2021-03-31T15:24:55","slug":"ustr-suspends-trade-engagement-with-burma","status":"publish","type":"post","link":"https:\/\/www.noatumlogistics.com\/us\/ustr-suspends-trade-engagement-with-burma\/","title":{"rendered":"USTR SUSPENDS TRADE ENGAGEMENT WITH BURMA"},"content":{"rendered":"

On Monday, March 29, 2021, the United States Trade Representative (USTR) Katherine Tai announced that the USTR would Suspend Trade Engagement with Burma following Military Coup and Violence against Civilians<\/a>.\u00a0 In the message, the USTR said the suspension of all U.S. engagement with Burma under the 2013 Trade and Investment Framework Agreement (TIFA) will remain in effect until a return of a democratically elected government.<\/p>\n

In addition to the suspension of trade engagement, the USTR has also announced that it will evaluate Burma\u2019s situation with respect to the Generalized System of Preferences (GSP) program reauthorization which has established standards for worker\u00a0rights. The United States had previously suspended Burma\u2019s GSP benefits in 1989 on worker rights grounds.<\/p>\n

This announcement comes while the Treasury Department\u2019s Office of Foreign Assets Controls (OFAC) has expanded Burma sanctions<\/a> to two Burma military holding companies: Myanmar Economic Holdings Public Company Limited (MEHL) and Myanmar Economic Corporation Limited (MEC).<\/p>\n

As a result of this action, all property, and interests in property by these entities that are in the U.S. or in the possession or control of U.S. persons are blocked and must be reported to OFAC.\u00a0This includes any entities that are fifty percent owned, directly or indirectly, by one or more of the above-named entities.<\/p>\n

If you have any questions, please contact\u00a0your Noatum Logistics representative<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Monday, March 29, 2021, the United States Trade Representative (USTR) Katherine Tai announced that the USTR would Suspend Trade Engagement with Burma following Military Coup and Violence against Civilians.\u00a0…<\/p>\n","protected":false},"author":9,"featured_media":16077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[357,358],"tags":[],"class_list":["post-16830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulatory-updates","category-supply-chain-alerts"],"yoast_head":"\nUSTR SUSPENDS TRADE ENGAGEMENT WITH BURMA - USA<\/title>\n<meta name=\"description\" content=\"On Monday, March 29, 2021, the United States Trade Representative (USTR) Katherine Tai announced that the USTR would Suspend Trade Engagement with Burma USTR, United States Trade Representative, Katherine Tai, Burma, Trade and Investment Framework Agreement, TIFA, Generalized System of Preferences program, GSP program, worker rights, Treasury Department, Office of Foreign Assets Controls, OFAC, sanctions, Myanmar Economic Holdings Public Company Limited, MEHL, Myanmar Economic Corporation Limited, MEC\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.noatumlogistics.com\/us\/ustr-suspends-trade-engagement-with-burma\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USTR SUSPENDS TRADE ENGAGEMENT WITH BURMA - 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