Bipartisan hope springs eternal for legislation aimed at countering China’s rise, incentivizing semiconductor production in the U.S., and upping government spending on research and development, says a key congressional staffer.
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President Biden’s February executive order to review critical supply chains is a “demand signal” to industry and an opportunity to address and national security vulnerabilities, business, congressional and intelligence community representatives said on Tuesday.
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The Senate Finance Committee on Thursday will hear from a former Trump administration trade official, a member of the U.S.-China Economic and Security Review Commission and others during a hearing on how the U.S. might better compete against China.
The Biden administration should begin to outline when it plans to engage in trade negotiations with countries like the United Kingdom, Japan and China, Sen. Chuck Grassley (R-IA) said on Tuesday, adding that he planned to press the Office of the U.S. Trade Representative for a “timetable” on those talks.
Sarah Bianchi, a longtime aide to President Biden in his prior roles, will be nominated for a deputy U.S. Trade representative portfolio that includes Asia, an administration official confirmed on Monday.
The Senate Finance Committee next week will hold a hearing on U.S.-China relations that is focused on competitiveness, a major legislative priority for Congress and the administration.
Two Republican lawmakers are urging the Commerce Department to enact tighter restrictions on the sale of key computer chip design equipment to Chinese companies.
An unreleased bill that would drastically increase National Science Foundation funding to better to compete with China, which is being heralded as the centerpiece of a forthcoming China-focused legislative package, came under fire on Wednesday from some Republicans who see it as an attempt to adopt Beijing’s high-spending strategy.
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