Insights

On August 28, 2025, France, Germany, and the UK (the E3) initiated the process to reinstate (or snapback) UN sanctions on Iran. The snapback mechanism (which was set to expire on October 18, 2025) is outlined in UN Security Council Resolution 2231 (UNSCR 2231).

On August 28, the U.S. Department of Commerce Bureau of Industry and Security (BIS) published a final rule that modifies the Export Administration Regulations (EAR) to reduce the number of export control restrictions on Syria, in alignment with Executive Order 14312, Providing For The Revocation of Syria Sanctions. The key adjustments made by this rule include the addition of new or expanded license exception eligibility for exports and reexports to Syria (which significantly broadens the number of items that can be exported or reexported to Syria) and the adoption of more permissive license review policies for exports and reexports to Syria.

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the “Act”), after it was passed by Congress on July 3, 2025. Notably, the Act made significant and welcome changes from the perspective of startup company stockholders and venture capital investors to the qualified small business stock (“QSBS”) rules set forth in Internal Revenue Code (“Code”) Section 1202. In a nutshell, the changes modernize (by adjusting for inflation) and expand the already favorable tax treatment for QSBS under Code Section 1202. The Act also permanently reinstates elective expensing for qualifying domestic research and experimental expenditures that will likely help more startups in research and capital intensive sectors qualify for favorable QSBS treatment.

Global Trade Talks co-hosts Nicole Simonian and Dj Wolff welcome Karen Gerwitz, President of the World Trade Center Denver, as she provides insight to our listeners on how companies are managing and operating in this uncertain trade environment where they are often waiting for the next shoe to drop. Global Trade Talks is a podcast that shares brief perspectives on key global issues on international trade, current events, business, law, and public policy as they impact our lives.