Washington Update

October 12th, 2018
By Angela Deng

Treasury expands review of foreign investment in US “critical technology” through pilot program

On Wednesday, the Department of the Treasury announced the launch of a pilot program to implement a key provision of the Foreign Investment Risk Review Modernization Act (FIRRMA) focusing on acquisitions of critical technologies.

The pilot program will “assess and address” the risks to US national security stemming from foreign investors’ efforts to obtain US critical technologies...

October 5th, 2018
By Angela Deng

Vice President Pence warns of China’s aggression against the United States

In a speech at The Hudson Institute on Thursday, Vice President Mike Pence asserted that China is applying a “whole-of-government approach,” consisting of propaganda and economic, military, and political “tools,” to expand its “influence” and “interests” in the United States. In the face of China’s aggression, Pence vowed that the United States “will not stand down.”

On China’s “economic tools,” Pence...

September 28th, 2018

US-China trade tensions escalate as tariffs and trade rhetoric intensify

Section 301 tariffs

The United States and China officially imposed additional tariffs on each other’s products on Monday. The United Statesimplemented an additional tariff rate of 10 percent on $200 billion of Chinese imports, which will be raised to 25 percent by the beginning of next year. China retaliated with tariff rates of 5 and 10 percent on $60 billion of US imports.

Together with the...

September 21st, 2018
Angela Deng, Manager, Government Affairs

The United States and China to impose additional tariffs next week

Trade tensions between the United States and China rose this week when both countries announced their decisions to start imposing additional tariffs on each other’s goods on September 24. The United States will implement a additional tariff rate of 10 percent on $200 billion of Chinese imports, which will be raised to 25 percent at the beginning of next year. In retaliation, China will impose...

September 15th, 2018
By Angela Deng

Secretary of Treasury Steven Mnuchin invites Vice Premier Liu He to talk

Earlier this week, Secretary of the Treasury Steven Mnuchin sent an invitation to China’s Vice Premier Liu He to hold higher-level talks on US-China trade. While both sides have confirmed the invitation, it is unclear whether a meeting will take place and the level of participants. It is also uncertain what will be on the agenda for discussion. The invitation comes as the United States is still considering...

September 7th, 2018
By Angela Deng

US-China trade tensions could escalate

The United States is expected to impose tariffs on an additional $200 billion of Chinese exports in the coming days, soon after the public comment period ended at midnight Thursday. Recent talks between the United States and China on August 22 and 23 ended with no signs of progress on substantive issues that may have averted the new tariffs.

Earlier today, President Trump reinforced that a 10 or 25 percent additional tariff rate will be...

August 24th, 2018
By Angela Deng

US-China talks give little indication of a resolution of the trade conflict

The US and China ended two days of meetings this week with no immediate signs of progress in resolving their trade disputes, but USCBC sources indicate it was a constructive exchange of views and may lay the groundwork for future progress on some areas of disagreement. At this stage, however, it is highly probable that the United...

August 13th, 2018
By Angela Deng

US and China finalize tariffs on $16 billion of goods; more tariffs on the horizon while talks are pushed back by the administration

On Wednesday, the United States and China finalized their lists of $16 billion worth of goods on which they will impose 25 percent tariffs against each other starting August 23. Once the tariffs on the $16 billion of goods go into effect, the US and China will have imposed tariffs on a total of $50 billion of goods from each side. The United States...

July 30th, 2018
By Angela Deng

CFIUS reform bill passed by the House

Changes to US reviews of foreign investment in the United States moved forward this week with the House of Representatives’ passage of the National Defense Authorization Act (NDAA). The bill includes a revised version of the Foreign Investment Risk Review Modernization Act (FIRRMA) that expands the scope of the Committee on Foreign Investment in the United States (CFIUS) authority to review foreign transactions, and strengthens US export...

July 20th, 2018
By Angela Deng

Congress likely to vote on CFIUS reform bill next week

Differences between the House and Senate versions of Foreign Investment Risk Review Modernization Act (FIRRMA) have been resolved during negotiations on the National Defense Authorization Act (NDAA) this week, with a total of 20 changes to the bill. The changes expand the scope of CFIUS authority to review foreign entities’ minority investments in US companies, real estate transactions near US government facilities, and other...

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