The White House on Thursday announced it was heeding a mandate in the fiscal year 2023 defense authorization bill by establishing the “Countering Economic Coercion Task Force,” which will include roughly 20 members including an official from the Office of the U.S. Trade Representative.
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Senate Foreign Relations Chair Ben Cardin (D-MD) on Thursday introduced wide-ranging legislation that would authorize the administration to negotiate agreements to cooperate with other countries on critical minerals and establish an economic defense fund for countries determined to be victims of Chinese economic coercion, among other provisions aimed at countering China’s global influence.
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The House Select Committee on the Chinese Communist Party’s critical minerals working group will consider whether it should prepare legislation that would set price controls on critical minerals to insulate the U.S. market from depressed Chinese prices, members said on Wednesday.
The Office of the U.S. Trade Representative on Wednesday announced the conclusion of its statutory review of Section 301 tariffs on Chinese goods by finalizing planned tariff hikes on tungsten and solar cell products.
New legislation that includes prohibitions and notification requirements for U.S. investment in key Chinese technology sectors could be included in a continuing resolution Congress is expected to pass next week, according to sources following the discussions.
China’s new export controls on gallium, germanium and antimony are likely to cause shortages in the U.S. that won’t immediately be felt by consumers but will force the U.S. to find ways to secure new sources -- though there are no easy options, analysts tell Inside U.S. Trade.
Sens. Marsha Blackburn (R-TN) and Jon Ossoff (D-GA) on Thursday introduced a bill to reform customs rules by establishing a blacklist for repeat trade offenders that would be denied access to de minimis benefits.
New export controls levied on China by the Bureau of Industry and Security are riddled with loopholes, House Select Committee on the Chinese Communist Party Chair John Moolenaar (R-MI) charged this week, claiming the agency crafted the measures to “purposefully” help Chinese companies.