Treasury announces new North Korea sanctions on banks
Treasury Secretary Steven Mnuchin announced Thursday that President Trump had signed a new executive order to sanction foreign banks who do business with the North Korean regime. Mnuchin specifically said that China is not an intentional target of these sanctions, though UN Ambassador Nikki Haley later added that if China continues to do business with North Korea, then it will be impacted. The announcement came several days after...
Trump rejects Chinese investment case; Congressional hearing on CFIUS
President Trump this week blocked Chinese-backed private equity firm Canyon Bridge Capital Partners from buying US semiconductor company Lattice. In a public statement about the decision, Treasury Secretary Steven Mnuchin said the decision was based on national security concerns, following the recommendation of the Committee for Foreign Investment in the United States (CFIUS), an interagency group that is chaired...
Trump Trade Mission to China, applications open
The US Department of Commerce has posted details about a November 2017 trade mission to China that will coincide with President Trump’s anticipated state visit to China. The goal of the mission will be to, “advance the Administration’s goal of reducing the U.S.-China trade deficit by promoting U.S. exports.” Interested companies should submit their applications by September 29, 2017.
Lawmakers urge improved access for financial...
Trump faces first Chinese investment review
Lattice Semiconductor Corp plans to seek presidential approval for its proposed $1.3 billion sale to China-backed Canyon Bridge Capital Partners after the deal was not approved by the Committee on Foreign Investment in the United States (CFIUS), according to reports Friday. This would be the first case to be sent to President Trump seeking to overrule a CFIUS decision, and only the fourth to be sent to a president in three decades. In all...
August 24th, 2017
US Trade Representative Robert Lighthizer on Friday, August 19 launched a Section 301 trade case against China to investigate “unreasonable or discriminatory” behavior in its treatment of technology transfer, intellectual property and innovation. This follows President Trump’s memorandum on August 14, requiring USTR to consider such a case.
The Office of the Trade Representative's press release about the investigation quotes Lighthizer saying, “On Monday,...
August 18th, 2017
Trump issues memo to consider trade actions on China IPR and technology policies
President Trump issued an executive order on Monday, directing US Trade Representative Robert Lighthizer to consider whether to launch an official investigation into China’s intellectual property rights, innovation and technology policies and practices. The action begins a process that may lead to action to address concerns under US trade laws, rather than through World Trade...
August 4th, 2017
China trade enforcement action under consideration
The Trump administration may take its first trade action targeted at China as early as next week, based on leaks from various sources. However, the specifics of the action are still unclear, and the announcement originally scheduled for today was postponed.
President Trump is reportedly planning to direct the US Trade Representative to launch a Section 301 case against China in the near future, likely...
July 28th, 2017
USTR Lighthizer addresses Chinese subsidies in interview
In a radio interview on Tuesday, US Trade Representative Robert Lighthizer said that President Donald Trump is focused on resolving China’s use of unfair subsidies that cost American jobs. "If it’s unfair, the president's going to go after it," Lighthizer said. "You have to take on their industrial policy one way or another. For example, they will develop an industry behind a closed market in China. When...
July 21st, 2017
Comprehensive Economic Dialogue concludes; no outcomes on key issues
The United States and China were unable to reach agreement on significant outcomes at the first US-China Comprehensive Economic Dialogue (CED), which took place on July 19. An impasse over China’s steel capacity was reportedly the driving factor. USCBC sources indicate that US negotiators, after review at the highest levels, determined that China’s offers in other areas were insufficient to...
July 14th, 2017
Sunday marks the end of the “100-day” plan, agreed to by Presidents Trump and Xi at their Mar-a-Lago meeting in April. Delegations from the two governments will meet Wednesday for the first meeting of the Comprehensive Economic Dialogue. USCBC will report on relevant news from this event throughout next week.
Comprehensive Economic Dialogue: Background, Details, and Expectations
The CED is part of a four-pillar structure agreed to by the US and China...
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