Tag Archives: China

Upcoming/New CFIUS Filing: Paccar Inc.; Cummins, Inc.; Daimler Trucks Group Company; EVE Energy Co., Ltd. – Joint Venture

Status:                  Upcoming/New Filing Acquirer:              Paccar Inc. (U.S.); Cummins Inc. (U.S.); Daimler Trucks Group Company (Germany); EVE Energy Co., Ltd. (China) Acquired:             New joint venture (U.S.) Value:                   $2-3 billion Industry Tags:    Battery and Electronic Component Manufacturing; Electric Vehicles… Continue Reading

U.S. Commerce Secretary’s Meetings in China Reinforce Trade Relations and Deepen Bilateral Discussions

U.S. Secretary of Commerce Raimondo’s recent visit to China in late August was “part of ongoing efforts to deliver on President Biden’s directive following his meeting with President Xi in November 2022 to deepen bilateral discussions.” (Commerce Press Release, Aug. 28, 2023.)  Throughout the meetings, the Commerce Secretary sought to reinforce U.S. economic interests in … Continue Reading

Updates Regarding Exports of Certain Nuclear Items to China and Macau

On October 14, 2023, the U.S. Department of Commerce, Bureau of Industry and Security (“BIS”) published in the Federal Register a final rule that amends the Export Administration Regulations, 15 C.F.R. parts 730-774 (“EAR”), “by adding additional nuclear nonproliferation controls on China and Macau.” Changes specifically apply to “items controlled for Nuclear Nonproliferation (NP) column … Continue Reading

Webinar: Recent Development in International Trade New Executive Order on US Outbound Investments in Emerging Technology in China — Issues, Impacts & Challenges – August 22, 2023

On August 9, 2023, US President Joe Biden signed a long-awaited executive order (EO) establishing a framework for outbound US investments in emerging technologies in China. The EO subjects certain investments in semiconductors, quantum technologies, artificial intelligence (AI) and other technologies to new notification procedures or outright prohibition on direct or indirect outbound investments. However, … Continue Reading

U.S. Outbound Investment Restrictions and Notification Requirements Mandated by Executive Order: Currently Limited to Certain Investments in China Tech

On August 9, 2023, U.S. President Joe Biden signed an Executive Order (“EO”) titled “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concerns,” mandating the establishment of an outbound investment regulatory regime.  The EO mandates that the Treasury Department, in coordination with other agencies, issue regulations to establish a … Continue Reading

U.S. Action Against Pea Protein from China

On July 11, 2023, PURIS Proteins LLC filed antidumping (AD) and countervailing duty (CVD) petitions against pea protein from China, claimed to be (a) sold into the United States at less than normal value (i.e., at unfairly low prices, that are below cost plus reasonable profit, based on market economy standards) and (b) government subsidized … Continue Reading

CFIUS Determines it Lacks Jurisdiction to Review Chinese Land Acquisition

In 2022, Fufeng USA, a subsidiary of Chinese company Fufeng Group, purchased 370 acres near Grand Forks, North Dakota, with the intention of developing the land to build a plant for wet corn milling and biofermentation,[1] prompting opposition from federal and state politicians.[2] North Dakota Senators, North Dakota’s Governor, and Senator Marco Rubio urged the … Continue Reading

Not a Covered CFIUS Transaction: Fufeng Group Acquisition of Real Property Near Grand Forks, North Dakota

Status:      Not a Covered Transaction Acquirer:            Fufeng Group (China) Acquired:           Real property near Grand Forks, North Dakota Value:                  Approximately $2.6 million                   Industry Tags:    Agri-Industrial; Agriculture… Continue Reading

Trade Alert: US Action Against Certain Paper Shopping Bag Imports

On May 31, 2023, Novolex and union workers filed antidumping duty (AD) petitions against certain paper shopping bags imports claimed to be sold into the US at less than normal value (i.e., at unfairly low prices, such as below cost or home or third-country prices) and requested the imposition of AD import duties of: Offsetting … Continue Reading

CFIUS Clearance: Sino Biopharmaceutical Limited and F-Star Therapeutics, Inc.

Status Tags:        Clearance; Mitigation; Withdraw and Refiled (2d Time); Interim Order; Withdrawn and Refiled Acquirer:            Sino Biopharmaceutical Limited (Hong Kong SAR, China) Acquired:           F-Star Therapeutics, Inc. (United Kingdom; U.S.) Value:                 $161 million   Industry Tags:    Pharmaceutical; Biotechnology; Healthcare… Continue Reading

Trade Alert: New Antidumping (AD) and Countervailing Duty (CVD) Petitions on Certain Tin Mill Products from Canada, China, Germany, Netherlands, South Korea, Taiwan, Turkey and the United Kingdom

On January 18, 2023, Cleveland-Cliffs Inc. and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, filed a petition to impose (a) antidumping (AD) duties on imports of Certain Tin Mill Products from Canada, China, Germany, Netherlands, South Korea, Taiwan, Turkey and the United Kingdom; and, (b) countervailing … Continue Reading

BIS Amends EAR to Apply Recent Advanced Computer and Semiconductor Export Controls to Macau

On January 18, 2023, the U.S. Commerce Department’s Bureau of Industry and Security (BIS) published in the Federal Register an Interim Final Rule, 88 Fed. Reg. 2821, amending the Export Administration Regulations (EAR) (15 CFR Parts 730-774) by adding Macau to the recent controls implemented on certain advanced computing and semiconductor manufacturing items destined for … Continue Reading

Uyghur Forced Labor Prevention Act: U.S. House and Senate Reach Agreement

On December 14, 2021, lawmakers in the House and Senate announced that they had reached an agreement on compromise language for a bill known as the Uyghur Forced Labor Prevention Act or “UFLPA.”  Different versions of this measure passed the House and the Senate earlier this year, but lawmakers and Congressional staff have been working to reconcile … Continue Reading

CFIUS Update: CITIC Capital Acquisition Corp. and Quanergy Systems, Inc.

Status: Mitigation; Clearance Acquirer:  CITIC Capital Acquisition Corp. (Cayman Islands) Acquired:  Quanergy Systems, Inc. (US) Value:  US$1.4 billion Industry:  Autonomous Vehicles; Artificial Intelligence; Internet of Things… Continue Reading

China’s Anti-Foreign Sanctions Law

On June 10, 2021, the People’s Republic of China adopted the Anti-Foreign Sanctions Law (the “Law”). The main purpose of the Law is to provide a legal basis for China to adopt retaliatory measures against any so-called “discriminatorily restrictive measures” that may be imposed by foreign countries against Chinese organizations and citizens (the “Foreign Sanctions”).… Continue Reading

CFIUS Filing: Zhejiang Youchuang Venture Capital Investment, Shaoxing City Keqiao District Paradise Silicon Intelligent Robot Industrial Investment Partnership, and EKSO Bionics Holdings

Status: CFIUS Requested Review; Terminated; Mitigation Acquirer:  Zhejiang Youchuang Venture Capital Investment Co., Ltd. (China); Shaoxing City Keqiao District Paradise Silicon Intelligent Robot Industrial Investment Partnership (China) Acquired:  EKSO Bionics Holdings, Inc. (U.S.) Value:  US$5 million Industry:  Medical Devices & Equipment; Healthcare; Exoskeleton Technology… Continue Reading
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