MCC Publishes Akin Gump Article on New Export Control Rules and the Aerospace Industry
The Metropolitan Corporate Counsel has published “Export Control Reform Is Here: Aerospace Industry Is First, Others To Follow,” an article by Akin Gump international trade partner Thomas J. McCarthy, counsel Shiva Aminian and associates Christian Davis and Rebekah Jones.
The article discusses new export control rules issued by the Obama administration that are expected to have a major impact on the aerospace industry when they take effect on October 15, 2013.
As the article notes, “Specifically, the rules will transition control over a number of items manufactured for the aerospace industry from the International Traffic in Arms Regulations (ITAR) [controlled by the U.S. State Dept.] to the Export Administration Regulations (EAR) [controlled by the Department of Commerce], requiring aerospace companies around the world that manufacture, export or re-export ITAR-controlled items to evaluate and amend their current authorizations and to restructure compliance activities in order to meet tight regulatory deadlines and avoid violations of the new laws.”
The article was originally issued as an Akin Gump client alert, which can be read in its entirety here.