Last week, the Select Committee on the CCP approved a report that included more than 100 recommendations on trade and economic policy. If enacted, these recommendations would drastically change the US-China commercial relationship.
On Saturday, Commerce Secretary Gina Raimondo participated in the Reagan National Defense Forum, where she emphasized the need for the United States to remain the global leader in critical technologies like semiconductors. She urged Congress to increase the budget for the Bureau of Industry and Security (BIS) and make the export control enforcement office “more muscular.”
On Wednesday, lawmakers convened for the first full conference committee to reconcile the House and Senate versions of the FY2024 National Defense Authorization Act (NDAA). The NDAA is one of the last must-pass bills left on the ledger this year, and there is friction between the Senate-approved version that passed with overwhelming bipartisan support in July and the House version, which passed along party lines and includes more politically charged provisions.
On Wednesday, President Joe Biden and President Xi Jinping met face to face for the first time in over a year on the sidelines of APEC in San Francisco. According to a White House readout, the leaders had a candid and constructive discussion and agreed to strengthen cooperation in several areas.
On Tuesday, the White House confirmed that it has reached an agreement “in principle” for President Joe Biden and President Xi Jinping to meet on the sidelines of the APEC Leaders Meeting in San Francisco taking place November 11 to 17. The agreement was announced after Chinese Foreign Minister Wang Yi met with Biden, National Security Advisor Jake Sullivan, Secretary of State Antony Blinken, and a delegation of US business leaders in Washington last week.
USCBC will be filing comments with the Bureau of Industry and Security on the two new interim final rules on advanced computers/supercomputers (AC/S IFR) (PDF) and semiconductor manufacturing equipment (SME IFR) (PDF). We plan on filing one comment letter to address both rules.
On October 17, the Commerce Department’s Bureau of Industry and Security (BIS) released updated rules restricting the export of advanced semiconductors and semiconductor manufacturing equipment to China. The new controls will become effective 30 days after they are published on the Federal Register, which is expected in the near future.
From Saturday to Monday, a bipartisan congressional delegation led by Senate Majority Leader Chuck Schumer (D-NY) was in China for talks with Chinese government officials, as well as members of the US and Chinese business community.
This week, Senate Majority Leader Chuck Schumer (D-NY) confirmed that he will lead a bipartisan congressional delegation to China, Japan, and South Korea next week. He will be accompanied by Senate Finance Committee Ranking Member Mike Crapo (R-ID), as well as senators Bill Cassidy (R-LA), Maggie Hassan (D-NH), John Kennedy (R-LA), and Jon Ossoff (D-GA).
On Monday, the Department of Commerce’s National Institute of Standards and Technology published a final rule on the Federal Register detailing the guidelines for the proper utilization of funds under the CHIPS and Science Act of 2022 (CHIPS). According to Commerce, the final rule seeks “to prevent funding provided through the program from being used to directly or indirectly benefit foreign countries of concern.”
