Senator Bob Casey is working with Treasury to revise legislation for an outbound investment review mechanism following concerns raised by industry and other lawmakers. USCBC understands that the revisions aim to make the provisions more targeted and aligned with White House goals. Read more
Senate Finance Committee wants Biden’s Indo-Pacific Economic Framework to go further. Several members at Tuesday’s hearing called for a concrete and enforceable...
The way forward for a comprehensive China legislative package is still uncertain. While the Biden administration continues to push for quick passage in order to secure the bill’s semiconductor funding, the war in Ukraine—and perhaps to a greater extent, partisan divides—may delay a formal conference by at least a month. Read more
Commerce is warning Chinese companies not to defy economic restrictions on Russia. Commerce Secretary Gina Raimondo said this week that the...
The White House released its annual reports on securing critical American supply chains shortly after President Biden announced major investments in the domestic rare earth industry. It appears the administration is continuing to use carrots, not sticks, to incentivize reshoring supply chains. Read more
The Justice Department announced it will end its China Initiative and will instead pursue a broader approach to countering Chinese threats. The anti-espionage program...
USTR says past China trade strategies have not addressed key issues. A new report calls for the creation of new trade tools in order to meet these challenges, though it is unclear what those new tools might be. Read more
The Biden administration released its Indo-Pacific strategy late last Friday and plans to launch its regional economic framework early this year. According to the administration, the blueprint is not meant to serve as a China strategy. Read more...
Commerce adds 33 Chinese entities to its Unverified List
On Tuesday, the Commerce Department added 33 China-based companies to its Unverified List (UVL) because it was unable to verify the “legitimacy and reliability” of the entities through end-use checks. The 33 additions to the UVL are biotechnology, electronics, and optics companies, two Chinese universities’ mechanical and energy engineering departments, and a biotechnology laboratory. The UVL additions reflect the Biden...
House Democrats push forward on COMPETES without Republican support
This week, the House began consideration of the America COMPETES Act, House Democrats’ China package, just days after the 2,900-page bill was introduced. Like the Senate’s US Innovation and Competition Act (USICA), COMPETES includes funding for domestic research and innovation in key high-tech sectors. Though some elements touching on diplomatic, economic, and military aspects of the US-China relationship would change...
House Democrats introduce America COMPETES Act
On Tuesday evening, House Democrats unveiled a comprehensive China bill—the America COMPETES Act—a step toward readying the bill to be conferenced with the Senate’s US Innovation and Competition Act (USICA). See here for the press release, bill text, section-by-section summary, and fact sheet on the House bill.
According to USCBC sources, lawmakers must submit amendments to the America COMPETES Act by the end of the week, setting...
Forced labor task force to seek input on implementing ban on Xinjiang imports
On Thursday, the Department of Homeland Security (DHS) on behalf of the Forced Labor Enforcement Task Force released a federal register notice asking stakeholders for input on how the US government should implement the Uyghur Forced Labor Prevention Act, which starting in late June will ban any imports from Xinjiang unless the importer can prove its supply chain is free of forced labor. Comments will be...
The US government has been uncharacteristically quiet on China policy issues since the start of 2022. Publicly, the focus of lawmakers and the administration remains on domestic matters, but privately, trade and foreign policy staff are negotiating and drafting major proposals that could have an outsized impact on the US business community once these efforts move forward this year.
UFLPA benchmarking outreach
Now that the Uyghur Forced Labor Prevention Act has been...
