U.S. National Security Adviser Jake Sullivan had “extended discussions” about economics and national security, including technology export controls, in talks with senior leaders in China this week (see 2408280042), he said during an Aug. 29 press conference in Beijing.
Exports to China
The Treasury Department issued a final rule this week that will make investment advisers subject to anti-money laundering and counter-terrorism financing requirements, which it said will close a loophole that allows criminal actors to hide money in the U.S. and sanctioned companies to access sensitive technology through investments in American firms.
House Select Committee on China Chairman John Moolenaar, R-Mich., and Sen. Marco Rubio, R-Fla., urged the Defense Department Aug. 28 to place Chinese electric vehicle battery producer Contemporary Amperex Technology Ltd. (CATL) on its Section 1260H list of Chinese military companies, citing the firm’s close ties to the People’s Liberation Army (PLA) and its role in the Chinese Communist Party’s military-civil fusion strategy.
The U.S. touched on export controls in talks between National Security Adviser Jake Sullivan and China's Foreign Minister Wang Yi, readouts from both countries said, with the Chinese summary of two days of talks going into more detail about China's views on the issue.
China’s Foreign Ministry this week criticized Canada’s decision to impose a 100% tariff on Chinese electric vehicle imports (see 2408260033), saying the measure “ignores facts” and “disrespects” World Trade Organization rules. “This typical protectionist move disrupts China-Canada trade relations, harms the interests of Canadian companies and consumers, and does little good to Canada’s green transition process and global effort for climate response,” a ministry spokesperson said during an Aug. 27 press conference in response to a question from a wire service reporter. “China will take all measures necessary to safeguard the legitimate rights and interests of Chinese enterprises.”
The leaders of the House Select Committee on China asked the Commerce Department last week to describe the steps the Biden administration is taking to address attempts by Chinese companies to offer their products through different companies to evade U.S. restrictions.
Several ports of unlading code names were updated or added in the Automated Export System Aug. 27, the Census Bureau said in an email to industry. AES updated the port in Nigpo, China (Port Code 57020), and added ports in Ras Al-Khair, Saudi Arabia (Port Code 51722), Tuna, India (Port Code 53308), and Zhoushan, China (Port Code 57023).
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Reps. Tom Kean Jr., R-N.J., and Hillary Scholten, D-Mich., introduced a bill last week that would prohibit lawmakers from making personal financial investments that involve China, Russia, Iran or other “foreign adversaries.”
Former Rep. Mike Gallagher, R-Wis., said last week he remains confident that a new law requiring China’s ByteDance to divest popular social media application TikTok will survive any legal challenges.