Washington Update

October 29th, 2018
By Angela Deng

USCBC: China should move first to resolve the US-China trade tensions

The trade tensions between the United States and China are likely to escalate again unless China articulates the list of structural reforms that it is willing to undertake to address the US concerns, US-China Business Council President Craig Allen told reporters yesterday. 

USCBC sources indicate that the probability is currently 75 percent that the United States will increase the 10 percent tariff rate to...

October 22nd, 2018
Angela Deng, Manager, Government Affairs

Treasury strongly criticizes China but withholds from calling it a currency manipulator

In its semiannual report on other countries’ foreign exchange practices, the US Department of the Treasury maintained China on its currency monitoring list, but again refrained from labeling China a currency manipulator.

The findings of Treasury’s new report on China are the same as those of Treasury’s previous report in April. Like its previous report, Treasury placed China on its...

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...