Washington Update

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...

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...

March 5th, 2018
Meg Kelly

Liu He visits Washington amid talk of steel and aluminum tariffs

Chinese President Xi Jinping’s top economic advisor, Liu He, travelled to Washington this week to discuss trade tensions with the US government. Liu, a key proponent of China’s economic reforms over the past decade, was named to the Communist Party Politburo last fall and is expected to become a vice premier next month with responsibility for the financial sector.

Liu had a joint meeting on Thursday with...

February 16th, 2018
By Meg Kelly

Commerce Department releases findings on steel and aluminum investigations

On a call with media today, Commerce Secretary Wilbur Ross discussed the findings and suggested remedies from the Administration’s investigations into steel and aluminum imports. In his remarks, Ross said, “each of these reports comes to the conclusion that… imports threaten to impair our national security.” Ross indicated that the goal of the actions in both products was to raise US production to 80 percent...