Washington Update

October 27th, 2022
By USCBC Government Affairs 

Long story short

Negotiations on a package that would renew trade provisions, including Trade Adjustment Assistance and Trade Promotion Authority, have stalled. Republicans insist on passing both or neither, while Democrats are pushing for a package that only includes Trade Adjustment Assistance. Read more

The next in-person meeting of the US-EU Trade and Technology Council is set for December 5. It was reported that the leaders will discuss AI policies, which could be more...

October 20th, 2022
By USCBC Government Affairs 

Long story short

Huawei and affiliates are back in the spotlight. The FCC is reportedly considering banning the sale of new Huawei and ZTE equipment in a rule expected to drop next month. Read more

Secretary of State Antony Blinken discussed technological competition with China during a discussion at Stanford. He summarized the goals of the administration’s National Security Strategy, which include screening outbound investments and having more countries sign on to stricter...

October 13th, 2022
By USCBC Government Affairs 
Long story short

Last Friday, the Commerce Department announced precedent-breaking export controls on advanced chips and components. The department also added 31 Chinese entities to its Unverified List and made it easier to shift them to its Entity List, which could limit their ability to obtain certain US technologies. USCBC invites members to join our webinar covering the new restrictions on Tuesday, October 18. Read more

On Tuesday, the Senate formally began debate on this year’s...

October 6th, 2022
By USCBC Government Affairs 
Long story short

Export controls on chips 14 nm and below are expected to be released this morning. This rule would formalize the “is informed” letters Commerce reportedly sent to companies earlier this year, restricting the sale of these chips to China’s SMIC. Read more

Executive action on outbound investment still appears imminent, but the administration has not provided any details. There are both supportive and critical views on this course of action coming from the Hill, and...

September 29th, 2022
By USCBC Government Affairs

On Tuesday, congressional leadership and supporters of the NCCDA called on President Biden to issue an outbound investment executive order while the bill is revised. Today, it is looking like longtime critic of the bill Senator Pat Toomey may be more open to a less comprehensive version of the bill. Read more

House Republicans released their version of the Taiwan Policy Act on Wednesday. This version has reinstated language that the Senate Foreign Relations Committee removed from its...

September 22nd, 2022
By USCBC Government Affairs 
Long Story Short

President Biden this week instructed CFIUS to focus its scrutiny on several priority areas, including transactions that might affect US innovation, cybersecurity, or sensitive data. The order does not expand CFIUS’s power but rather focuses its efforts. Read more 

After the State Department’s approval of a $1.1 billion arms package for Taiwan, China sanctioned top executives from US defense firms. It is not the first time China has used sanctions to retaliate for arms...

September 15th, 2022
By USCBC Government Affairs 
Long story short

Committees in both the Senate and the House were focused on Taiwan this week, with the Senate Foreign Relations Committee advancing a new version of the Taiwan Policy Act and the House Ways and Means Committee holding a hearing on US-Taiwan trade. Read more

The Biden administration continued its semiconductor push and launched a new initiative to shore up and protect US biotechnology capabilities. Further export controls are likely to follow on both fronts, in...

September 8th, 2022
By USCBC Government Affairs 
Long story short

Executive action on outbound investment review is expected before the end of the year. We understand that the scope of such a mechanism will be narrower than that of the NCCDA. It remains to be seen if the mechanism would be empowered to block or modify investment plans. Read more

On Tuesday, the Department of Commerce released an 18-page strategy for the CHIPS for America Fund. The plan largely reiterates high-level goals, and the administration is expected to...

September 2nd, 2022
By USCBC Government Affairs 

Last Friday, the United States and China reached a long-awaited deal to grant the PCAOB access to the auditing records of Chinese firms listed on US exchanges. The tone of the US side, however, is one of caution. SEC Chair Gary Gensler stressed that the real test of the deal’s success will come later this month during the first inspections in Hong Kong. Read more

The Biden administration officially launched the first steps of CHIPS implementation. In an executive order last week,...

August 25th, 2022
By USCBC Government Affairs 

Long story short

The United States continues to explore the creation of the Chip4 Alliance, which could further complicate tensions in the Asia-Pacific. The alliance, which has not been formally announced, is meant to coordinate semiconductor manufacturing incentives and other policies among the United States, Japan, South Korea, and Taiwan amid a growing competition with China. Read more 

On Wednesday, BIS added seven China-related entities to its export control blacklist. Six...

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