US Trade Representative Katherine Tai’s testimony reaffirmed the administration’s support for an outbound investment review mechanism. It is uncertain if such a mechanism will be passed as part of a comprehensive China bill, future legislation, or through executive action. Read more
The House and Senate set the stage for a China bill conference to take place in early April. While lawmakers were previously hoping to pass the bill by Memorial Day, they may now be...
On Wednesday, USTR reinstated some of the Section 301 tariff exclusions that had expired. While this is a welcome move, many stakeholders, including USCBC, believe it does not go far enough to ease the burden on US companies, farmers, and consumers. Read more
This week, lawmakers continued to signal that a China bill conference will begin within the next few weeks. Some, including the administration, hope and expect that a version of the bill will pass this summer,...
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...
