The Pentagon stands by its decision last week to add Hesai Technology to its 1260H List of Chinese military companies, an agency spokesperson said.
Exports to China
Sen. Kevin Cramer, R-N.D., introduced a bill Feb. 8 that would require the Committee on Foreign Investment in the U.S. to respond to a state governor who asks whether a proposed transaction would trigger a CFIUS review.
Exporters are reporting container costs changing from week to week due to attacks by Houthi rebels on commercial cargo ships moving through the Red Sea, said Eric Bartsch, the secretary of the USA Dry Pea & Lentil Council and the American Pulse Association. Bartsch, speaking during a Feb. 7 Federal Maritime Commission hearing on Red Sea shipping disruptions (see 2402070078), said many of pea, lentil and pulse exporters are small businesses, and 65% of their crops are exported.
The Treasury Department last week released its 2024 money laundering, terrorist financing and proliferation financing risk assessments, highlighting areas where companies can focus compliance resources and help “inform their own risk mitigation strategies.”
A task force created by the House Foreign Affairs Committee has released a report proposing a series of changes to speed up the delay-prone Foreign Military Sales (FMS) process.
DOJ this week announced charges involving two illegal technology transfer schemes, which were meant to benefit the Chinese and Iranian governments.
An investigation by the House Select Committee on China found that five U.S. venture capital firms have invested more than $3 billion in Chinese technology companies, many of which aid China’s military, surveillance apparatus and human rights violations, the committee said on Feb. 8.
For Sen. Chris Coons, D-Del., the future of U.S. trade policy is to make climate a trade policy priority, work with global allies to set digital trade standards and deepen the U.S. trading relationship with the global south.
Hesai Technology, the largest Chinese lidar company by sales, plans to sue the Pentagon for adding it to a list of companies with ties to China’s military (see 2402010018), the company announced Feb. 8. Hesai was added to the list “without any explanation or justification,” CEO Yifan Li said, calling the U.S. decision “unjust, capricious, and meritless.”
The Treasury Department is likely to release its draft outbound investment regulations in the next several months, setting them up to potentially take effect before year's end, said foreign investment lawyer Jonathan Gafni of Linklaters.