Washington Update

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...

July 13th, 2018
By Angela Deng

United States argues WTO insufficient to address concerns about China’s trade policies

At the seventh review of China’s trade policies at the World Trade Organization (WTO) -- part of a regular process for all WTO members -- US Ambassador Dennis Shea stated that while China’s unfair and distortive trade practices needed a “reckoning”, the WTO rules are insufficient to deal with China’s state-led policies and any negotiation to change WTO rules would take too long. “The best solution...

July 6th, 2018

The US-China trade battle escalated early Friday morning, as the United States imposed tariffs on $34 billion in imported Chinese goods, and China responded in kind with retaliatory tariffs worth the same amount. As Washington Update goes to press, however, it is unclear when the United States will follow through on President Trump’s directive to identify an additional $200 billion in Chinese imports to target for tariffs in counter-retaliation.

The US-China Business Council issued a...