Senate Banking Committee Chairman Sherrod Brown, D-Ohio, said Jan. 18 that he remains committed to passing two China-related investment measures that failed to become law last year.
Exports to China
The House Foreign Affairs Committee is renewing a push to pass a bipartisan bill that could expand the Treasury Department’s upcoming outbound investment prohibitions to cover more Chinese technology sectors and additional countries. But some lawmakers disagree on the best way to scope U.S. investment restrictions under the bill, arguing that they should be imposed through individual sanctions on specific entities rather than on whole technology industries.
The Bureau of Industry and Security believes its export controls are adequate to protect all 19 of the critical and emerging technology categories identified by the White House as important to national security (see 2202090016), a BIS official said on Jan. 17.
Sen. Rick Scott, R-Fla., has asked the Smithsonian Institution to provide more information about its bird genetics research partnership with China-based Beijing Genomics Institute (BGI), saying he’s concerned about BGI’s ties to its country’s military and what he calls its aggressive data collection activities.
The U.S. is likely to continue using export controls, investment restrictions and other economic policy tools against China this year, particularly as the upcoming presidential election draws closer, trade and economic policy experts said this week.
Sen. Jon Tester, D-Mont., urged USDA and the Treasury Department to review how Chinese businessman Chen Tianqiao was able to buy almost 200,000 acres of Oregon farmland in 2015 without disclosing the purchase to the federal government.
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Rep. Jake LaTurner, R-Kan., called on two key members of the Committee on Foreign Investment in the U.S. to prevent Cnano Technology USA, a subsidiary of China-based Cnano Jiangsu Technology Co. Ltd., from opening a manufacturing plant for electric vehicle battery parts in Johnson County, Kansas.
India and the U.S. should aim for "economically meaningful outcomes" from better customs and trade facilitation, supply chain linkages, trade in high-tech products and trade in critical minerals between the two countries, India's commerce minister and U.S. Trade Representative Katherine Tai said in a joint statement.
The House Select Committee on China has sent letters to the chief executives of U.S. chipmakers Intel, Nvidia and Micron Technology asking them to testify before the panel about the challenges their industry faces, a person close to the committee said Jan. 12, confirming a Financial Times report. A hearing date has not yet been determined, the person said.