While it represents an important step toward combating forced labor and protecting human rights, the Uyghur Forced Labor Prevention Act has the side effect of increasing day-to-day complexity for importers.
U.S. officials asked banks and regulators to identify high-tech American items that were being shipped to Russia via Hong Kong, according to sources that spoke with Nikkei Asia.
Transportation Secretary Pete Buttigieg hit back at the airlines, particularly United, saying the carrier has suffered out-sized impacts while others have recovered.
“Machine suppliers should buy back the equipment and components we have purchased legally if we can’t use them,” said Yangtze Memory chairman and acting CEO Chen Nanxiang.