Washington Update

August 18th, 2014
Stephanie Henry

Nominees for key Treasury and trade posts advanced on July 31, bringing the nominees one step closer to confirmation. The Senate Finance Committee reported to the full Senate Nathan Sheets’ nomination as under secretary for international affairs at the US Treasury Department – a post formerly held by Lael Brainard – and Robert Holleyman’s nomination as Deputy US Trade Representative, who would replace Demetrios Marantis. The Senate will need to confirm both nominations, but with Congress in...

May 19th, 2014
US-China Business Council

The United States Department of Justice (DOJ) today announced a US grand jury had issued indictments against five members of the Chinese military for cybertheft of US company secrets. China responded by suspending its participation in bilateral discussions on cybersecurity issues.

DOJ’s announcement, made on Monday morning in Washington, indicated that a grand jury in Pittsburgh handed down the indictments in relation to cyberespionage that occurred between 2006 and 2014 at five...

January 28th, 2014
Stephanie Henry

In his confirmation hearing before the Senate Foreign Relations Committee today, Senator Max Baucus (D-MT) said he would focus on “positive, cooperative, and constructive” ways to promote US-China trade and reduce regional tensions if confirmed as ambassador to China. He said this strategy had already “paid dividends,” such as China’s commitment to negotiate a Bilateral Investment Treaty (BIT) based on a US approach. Baucus is widely expected to be confirmed by the committee and full Senate...