Commentary: Tweet-induced compliance confusion

President Trump’s tweet on Friday calling for no new North Korean sanctions was enough to make any corporate compliance officer’s head spin.

Commentary: Tweet-induced compliance confusion

President Trump’s tweet on Friday calling for no new North Korean sanctions was enough to make any corporate compliance officer’s head spin.

Commentary: Tweet-induced compliance confusion

President Trump’s tweet on Friday calling for no new North Korean sanctions was enough to make any corporate compliance officer’s head spin.

 

   It was a case of tweet first, ask questions later when President Donald Trump on Friday suddenly messaged, “It was announced today by the U.S. Treasury that additional large scale Sanctions would be added to those already existing Sanctions on North Korea. I have today ordered the withdrawal of those additional Sanctions!”
    Confusion within the Trump administration, as well as the export industry, was immediate, since the day before the Treasury Department’s Office of Foreign Assets Control imposed new sanctions against two Chinese shipping companies, with the goal of further dismantling the illicit maritime supply chain that allows the continued transport embargoed goods to and from North Korea.
    When White House spokeswoman Sarah Huckabee Sanders responded to a clarification request from the press that day, she simply said, “President Trump likes Chairman Kim, and he doesn’t think these sanctions will be necessary.” The result: even more confusion.
    It wasn’t until later in the day that the Trump administration made another effort to clarify the president’s tweet by stating that it did not refer to the sanctions against North Korea announced Thursday but to additional sanctions that were expected to be announced against the regime shortly.

   The use of Twitter these past two years to convey the president’s thoughts on matters of foreign policy, as well as the knee-jerk reaction within the media, is enough to make any corporate compliance officer’s head spin. As rapidly as the administration and federal agencies themselves must respond to possibly inaccurate tweets, so do these executives in order to ensure that their companies maintain an accurate export compliance program, not just in the U.S. but overseas.
    For those companies with ill-equipped compliance programs, misinformation will only breed noncompliance within their supply chains.

We anticipate that demand for direct services between Dublin Port and continental Europe will increase further after Brexit.

The container liner service offering the fastest transits from China to the U.S. is the OCEAN Alliance’s NWX/TPN at 11 days from Ningbo to Tacoma, according to BlueWater Reporting’s Port to Port Transit Analysis by Carrier application, one of the many tools offered by BlueWater Reporting.

Most Popular
Latest News
Social Media

Loading...

U.S. toolmaker nailed for OFAC violations

U.S. toolmaker nailed for OFAC violations

Embed this story

Share Code Version 1

This version will embed the story headline and includes HTML fallback protection, ensuring the story will display even if some users decide to disable javascript in their browsers.

Copy & Paste the following code to embed this story on your website:

Preview

Commentary: Tweet-induced compliance confusion

President Trump’s tweet on Friday calling for no new North Korean sanctions was enough to make any corporate compliance officer’s head spin.

Mar 25, 2019 on Dec 27, 2018AmericanShipper.com

Share Code Version 2

This version will embed the story headline without any styling applied. Use this version if you will use your own custom styling on your website. This version also includes HTML fallback protection.

Copy & Paste the following code to embed this story on your website:

Preview

Commentary: Tweet-induced compliance confusion

President Trump’s tweet on Friday calling for no new North Korean sanctions was enough to make any corporate compliance officer’s head spin.

Mar 25, 2019 on Dec 27, 2018AmericanShipper.com