Update on US Export Controls Reforms
On January 8, the US-China Business Council (USCBC) hosted a discussion on the proposed changes to add “emerging and foundational technologies” to Commerce’s export controls list. Kevin Wolf and Christian Davis, Partners at Akin Gump, will share their expertise on the recent efforts to reform US export controls and their advice to companies on how to best provide input on possible controls on technologies important to US national security. Industry input will be critical to Commerce’s process of identifying new technologies to control
Post-G20 Debriefing with Clete Willems
On December 13, Clete Willems, Acting Special Assistant to the President for International Trade, Investment and Development at the National Security Council, debriefed us about the recent meeting between Presidents Trump and Xi after the G20 in Buenos Aires.
Recent Chinese Political Developments and Implications for Business
The US-China Business Council (USCBC) hosted a panel discussion on the implications of significant upcoming domestic and multilateral events for Chinese policy, US-China relations, and China’s economic reforms. Speakers included Daniel Wright, president and CEO of the GreenPoint Group, and Jude Blanchette, senior advisor and China practice lead at the Crumpton Group.
The confluence of important high-level political meetings impacting China’s economic policy direction towards the end of this year include a potential plenary session of the CCP Central Committee and China’s annual Central Economic Work Conference which could lay out a vision for China’s economic policy going forward, while a meeting between Trump and Xi on the sidelines of the G20 in Buenos Aires could alleviate tariff pressure or make it far worse. At the same time, as the dust settles from the massive government restructuring efforts launched in March, the effects on business, both positive and negative, are becoming clearer. Daniel Wright and Jude Blanchette will address these and other issues in their discussion of Chinese political environment and implications for business.
USCBC’s 45th Anniversary Gala
On behalf of all of us at the US-China Business Council, we would like to thank our event sponsors and member companies for their generous support of USCBC’s 45th Anniversary Gala and Tribute to President George H.W. Bush held on December 5, 2018 at the Ritz-Carlton Washington, DC.
USCBC Chair Evan Greenberg and President Craig Allen served as senior hosts. Nearly 450 leaders from the business, government, diplomatic, and think tank communities were in attendance. China’s top envoy to Washington, DC, His Excellency Cui Tiankai, was among the distinguished guests.
Ambassador Carla A. Hills, this year’s USCBC honoree, received a standing ovation from Gala attendees in recognition of her enduring contributions to bilateral and multilateral trade and investment agreements which have facilitated and expanded regional and global trade for decades. USCBC Chair Greenberg recognized Ambassador Hills as one of the country's leading foreign policy experts for her service in two presidential cabinets, first as Secretary of the Department of Housing and Urban Development for President Gerald R. Ford and then as the United States Trade Representative for President George H. W. Bush. In her brief remarks, Ambassador Hills reminded us of the late President Bush’s dream that the United States and China will “continue working together toward a full partnership and friendship that will bring peace and prosperity to people everywhere,” and emphasized the need for positive engagement in the bilateral relationship now more than ever.
In lieu of a physical gift, USCBC made a monetary donation on behalf of Ambassador Hills to the US-Asia Institute’s Szymanski Rule of Law Exchange Program. Funds will be used to support the immersion program for top Chinese and American law students and future leaders in each other’s legal systems.
USCBC President Allen highlighted the important role the US-China Business Council plays in advocating for American business in China. While these may be turbulent times, we are dedicated and committed to bilateral engagement, mutual respect, compromise, and peaceful resolution of differences; “the trade and investment relationship between our two countries has always been the foundation upon which the bilateral relationship rests.”
During Ambassador Cui’s remarks on outcomes of the G-20 meeting and perspectives for future US-China relations, he stated: “Let us work together to build an even stronger foundation for our future relations…to borrow a favorite phrase of the late President Bush, our relations will have ‘ceiling and visibility unlimited.’”
Photos from the event are forthcoming on the official photographer’s website: bit.ly/USCBC18. High definition electronic files or prints may be ordered directly from this site. If you plan to use the images for commercial purposes, please contact Kaveh Sardari directly ([email protected]) to discuss the copyright agreement.
USCBC looks forward to continuing to support our members and promote stronger US-China commercial relations in 2019. Please know that our staff in Washington, DC, Beijing, and Shanghai are ready to assist you with your China-related needs.
Special thank you to our Gala 2018 corporate sponsors that pledged their support:
Leadership:
Chubb, Walmart, Inc., Xcoal Energy & Resources
AccuWeather, Archer Daniels Midland Company, Barbara Franklin Enterprises, The Boeing Company,
USCBC Government Affairs Roundtable
The midterm elections saw divisions on trade and tariffs among candidates competing for seats in the House and Senate, with tariffs becoming a highly contentious issue in some races. The Trump-Xi meeting on December 1 on the sidelines of the G20 summit provided an opportunity to resolve some of the outstanding trade issues between the two countries.
On December 3, USCBC Senior Vice President Erin Ennis led an engaging discussion with members on the implications of both happenings.
US-China Cybersecurity Regimes: Recent Developments and National Security Implications
The US-China Business Council hosted a discussion with Edward McNicholas, Partner and co-leader of Sidley’s Privacy and Cybersecurity practice, and Stephenie Gosnell Handler, Senior Associate in Hogan Lovells’ Cybersecurity and International Trade and Investment practices. The event covered the evolving US-China cybersecurity landscape, recent regulatory developments, and how national security concerns are impacting the US-China commercial relationship.
China started rolling out cyber and data protection reforms in 2017, with the most recent set of rules outlining the government’s broad supervision and inspection authorities going into effect November 1. The US has recently moved to strengthen government review of foreign investment through the CFIUS process and export control procedures with an increasing focus on critical technologies, data protection, and cybersecurity. In the context of on-going trade tensions, the panel spoke about what these regulatory reforms mean for US businesses, what some of the main pitfalls are, and how companies should ensure compliance and prevent risk.
Mavis Tan from Control Risks on Fraud Investigations in China
The US-China Business Council hosted Mavis Tan, Senior Partner and lead for Control Risks’ forensic practice covering Greater China and North Asia, for a roundtable on October 12th. Ms. Tan shared her insights on dealing with complex investigations and effectively navigating the Chinese business environment.
This event was for members and invited guests of USCBC only.
S&P Global Report on US-China Trade Scenario
In a recent report, S&P Global discussed the impact of the trade war on US and China’s economies and the harmful effects of tariffs for US consumers and export dependent industries. S&P Global’s Chief Economist Paul Gruenwald provided USCBC members with insights into those findings, and China’s policy toolkit for managing the trade war and the issues of evaluating trade strictly through trade deficit. Mr. Gruenwald was also joined by Josh Green, co-founder of Panjiva, who gave his take on the data trends in global supply chains.
Hong Kong Economic Trade Office - US-China Business Council Luncheon
HKETO – USCBC Luncheon
In Honor of Edward Yau Tang-wah,
Secretary for Commerce and Economic Development,
Hong Kong Special Administrative Region Government
Tuesday, September 25, 2018
12:30 pm to 2:00 pm
Washington, DC
This was an opportunity for USCBC member companies to meet with Hong Kong officials and business leaders to informally discuss commercial opportunities in Hong Kong.
Government Affairs Roundtable – Section 301 Tariffs and Tariff Exclusions
The US-China trade tensions recently escalated with the US announcement of its decision to impose additional tariffs on $200 billion worth of Chinese imports and China’s response of imposing retaliatory tariffs on $60 billion of US goods. Compared to the first two rounds of tariffs under Section 301, the third round of tariffs, which took effect on September 24, affect a much wider range of US industries. USCBC hosted an event with member companies to discuss the implications of the tariffs for businesses and share views of the US tariff exclusion process. Speakers of the event included Eric Emerson, Partner at Steptoe & Johnson, and Brenda Jacobs, Counsel at Sidley Austin, who offered their expertise on these issues.