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Week in Review: Schumer Meets with Xi and Chinese Officials, Commerce Adds Chinese Companies to Entity List, and NDAA Negotiations Expected This Fall
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Week in Review: Schumer Meets with Xi and Chinese Officials, Commerce Adds Chinese Companies to Entity List, and NDAA Negotiations Expected This Fall

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.

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Week in Review: Congressional Delegation’s Upcoming China Trip, Commerce to Update October 7 Export Controls, and Treasury Sanctions Chinese Entities for Fentanyl Trafficking
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Week in Review: Congressional Delegation’s Upcoming China Trip, Commerce to Update October 7 Export Controls, and Treasury Sanctions Chinese Entities for Fentanyl Trafficking

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).

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Week in Review: CHIPS Guardrails Released, China Mentioned at Second GOP debate, and Senate Committee Looks Into Chinese Purchases of US Farmland
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Week in Review: CHIPS Guardrails Released, China Mentioned at Second GOP debate, and Senate Committee Looks Into Chinese Purchases of US Farmland

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.”

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Week in Review: Blinken Meets with China’s VP, House Committee Approves China Sanctions Bill, and Raimondo Comments on Export Controls and Huawei
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Week in Review: Blinken Meets with China’s VP, House Committee Approves China Sanctions Bill, and Raimondo Comments on Export Controls and Huawei

On Tuesday, President Joe Biden addressed the United Nations General Assembly (UNGA), covering a range of topics, including the US relationship with China. Biden emphasized that the United States seeks to “responsibly manage the competition” with China so that it does not tip into conflict.

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Week in Review: Biden Meets with Li Qiang, Select Committee in New York, and House Financial Services Committee Discusses Outbound Investment
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Week in Review: Biden Meets with Li Qiang, Select Committee in New York, and House Financial Services Committee Discusses Outbound Investment

Over the weekend, President Joe Biden engaged in high-level discussions with world leaders at the G20 summit in India. While Chinese President Xi Jinping was notably absent, Biden did meet with China’s number two leader, Premier Li Qiang, and touted the new found communication channels between his administration and Chinese leadership.

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Week In Review: Biden Administration Looks to Build Cooperation in Indo-Pacific, Maintains Export Controls Strategy, and Extends Tariff Exclusions
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Week In Review: Biden Administration Looks to Build Cooperation in Indo-Pacific, Maintains Export Controls Strategy, and Extends Tariff Exclusions

President Joe Biden is heading to New Delhi this week for the annual G20 Leaders’ Summit taking place over Saturday and Sunday. It was anticipated that the summit could provide a venue for a meeting between Biden and President Xi Jinping, but Xi is no longer expected to attend.

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Week in Review: Secretary Raimondo to Visit China, China Takes Back Seat at Republican Presidential Debate, and Japan, South Korea, and US Meet at Camp David
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Week in Review: Secretary Raimondo to Visit China, China Takes Back Seat at Republican Presidential Debate, and Japan, South Korea, and US Meet at Camp David

Commerce Secretary Gina Raimondo will be in China from August 27 to 30 for a series of meetings with Chinese officials and US business leaders in Beijing and Shanghai. In anticipation of the trip, Raimondo met with China’s Ambassador to the United States Xie Feng this week, but Commerce’s press release offered little detail on what was discussed.

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Week in Review: US Announces New Tariffs on Chinese and Other Tin Mill Steel, Select Committee Visits the Indo-Pacific, and Rubio Sends Letters to SEC and DHS on China Risks
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Week in Review: US Announces New Tariffs on Chinese and Other Tin Mill Steel, Select Committee Visits the Indo-Pacific, and Rubio Sends Letters to SEC and DHS on China Risks

On Thursday, the International Trade Administration (ITA) announced preliminary anti-dumping duties of 122.5 percent on tin mill steel imported from China, 7.02 percent on imports from Germany, and 5.29 percent on imports from Canada.

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Week in Review: Biden Releases Outbound Investment Executive Order and US-China Tensions Flared Over South China Sea Incident
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Week in Review: Biden Releases Outbound Investment Executive Order and US-China Tensions Flared Over South China Sea Incident

On Wednesday, the Biden administration dropped its long-expected executive order (EO) on outbound investment. While the regulations will not go into effect until a public comment process is finished, the EO marks a significant change in US policy on capital flows into China, particularly US investments into three covered sectors—semiconductors, artificial intelligence, and quantum computing.

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