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OMB Directs Agencies to Prepare for Sequestration

Client Alert | less than 1 min read | 12.12.12

OMB has recently issued internal guidance directing agencies to begin preparing for sequestration, prompting numerous agencies to reveal their intent to furlough employees, reduce office hours, and scale back or eliminate contracts should budget cuts occur as scheduled in January 2013. While the White House denied that the guidance signals pessimism about a budget deal, and events over the weekend suggest that the broad outlines of an agreement are coming together, the release of the guidance nonetheless recognizes that the time remaining for negotiating a resolution to avoid sequestration is growing short.


Insights

Client Alert | 6 min read | 07.09.26

EU Steel Overcapacity Regulation: New Permanent Measure in Force from 1 July 2026

The EU’s steel safeguard under Implementing Regulation (EU) 2019/159 expired on 30 June 2026 and has been replaced by a new permanent instrument — the EU Steel Overcapacity Regulation (Regulation (EU) 2026/1384) (the Regulation”). It imposes tariff-rate quotas and an out-of-quota duty, similarly to the steel safeguard measures that expired. The out-of-quota duty has been raised from 25% to 50% to minimize the risk of trade diversion. The Regulation reduces duty-free imports of 26 categories of steel products into the EU by an average of 47% compared with the quotas under the until recently applicable safeguard measures....