Since taking office in January 2017, President Trump has made use of several provisions of US law – including Section 301, targeting unfair trade practices, and Section 232, targeting threats to national security – to bring trading partners to the negotiating table. Major developments over the last two weeks could impact global supply chains across a wide range … Continue Reading
On May 22, 2019, the US Department of Commerce, Bureau of Industry and Security (BIS) is expected to publish in the Federal Register a Final Rule creating a 90-day Temporary General License (TGL) for Huawei Technologies Co., Ltd. (Huawei) and the 68 affiliated Huawei entities (collectively, the “Huawei Listed Companies”) that were added to the … Continue Reading
On May 15, 2019, President Donald Trump issued an Executive Order (EO) titled “Securing the Information and Communications Technology and Services Supply Chain.” The long-awaited EO addresses the use in US communications networks of technologies from certain types of foreign companies.… Continue Reading
UPDATE: BIS is extending the public comments deadline on emerging technology export controls from December 19 this year to January 10, 2019, per an unpublished Federal Register notice released on December 13. The proposed rule will officially appear in the Federal Register on December 14. Posted on November 26, 2018 On November 19, 2018, the US … Continue Reading
On August 14, 2018, legislation reforming the Committee on Foreign Investment in the United States (CFIUS), the Foreign Investment Risk Review Modernization Act (FIRRMA), and dual-use export controls, the Export Controls Reform Act (ECRA), were signed into law as part of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (NDAA) (H.R. … Continue Reading
On Thursday, December 14, 2017, the House Financial Services Subcommittee on Monetary Policy and Trade held a hearing titled “Examining the Operations of the Committee on Foreign Investment in the United States (CFIUS).” The hearing focused on CFIUS’s current effectiveness, the challenges it faces in the current economic environment, and potential improvements to increase its … Continue Reading
The Foreign Investment Risk Review Modernization Act of 2017 (“S. 2098/H.R. 4311” or FIRRMA) was introduced in the US Congress on November 8, 2017 to institute “a modernization of the processes and authorities” of the Committee on Foreign Investment in the United States (CFIUS or the “Committee”).… Continue Reading
On November 2, 2017, Representative Christopher Smith (R-NJ), introduced a bill that would “authorize a review of financial services industry requirements of the People’s Republic of China and the implications of such requirements on national security interests of the United States.” (H.R. 4235, 115th Congress, Nov. 2, 2017). The bill would require the Secretary of … Continue Reading
On September 13, 2017, the European Commission published the draft of the EU regulation establishing a common European framework for the review of incoming foreign direct investment (FDI), akin to the process in the US administered by Committee on Foreign Investment in the US (CFIUS).… Continue Reading
On March 14, 2017, U.S. Senators Chuck Grassley (R-IA) and Debbie Stabenow (D-MI) introduced new legislation to “give top U.S. agriculture and food officials permanent representation on the Committee on Foreign Investment in the United States (CFIUS).” (Senator Grassley Press Release, Grassley, Stabenow Introduce Bipartisan Legislation to Protect American Agricultural Interests in Foreign Acquisitions, Mar. … Continue Reading
Effective 19 April 2017, a new rule issued by the Department of Commerce, Bureau of Industry and Security (BIS) will require exporters or re-exporters of certain items subject to the Export Administration Regulations (EAR) to obtain and maintain proof of import or export authorization issued by the government of Hong Kong. Under the rule, persons … Continue Reading
In his first week in office, President Donald Trump signed a series of documents under his executive authorities on topics ranging from trade to national security to immigration, including on “extreme vetting” of persons from select Arab countries and establishing an indefinite ban on refugees from Syria. Speaker of the House Paul Ryan (R-Wisconsin) also … Continue Reading
Likely Major Policy Developments President-Elect Trump will enter the White House facing a dramatic decline in global trade growth. A recent World Trade Organization (WTO) report notes that 2016 marks the slowest pace of trade and output growth since the 2008 financial crisis. WTO Director-General Roberto Azevêdo called slowing trade growth “a wake-up call,” … Continue Reading
The U.S. Congress is in recess until after the 8 November elections. JASTA – Congress Overturns the Veto. Both chambers of Congress voted last week to override President Obama’s veto of the Justice Against Sponsors of Terrorism Act (JASTA; S. 2040), marking the first time lawmakers have successfully overridden a veto during his eight years … Continue Reading
Status: Clearance Acquirer: Suzhou Dongshan Precision Manufacturing Co., Ltd. (China) Acquired: Multi-Fineline Electronix, Inc. (US) Value: US$610 million Industry: Printed Circuit Boards The $610 million acquisition by Suzhou Dongshan Precision Manufacturing Co., Ltd. (“Suzhou”), of Irvine, CA based Multi-Fineline Electronix, Inc. (“MFLX”) was cleared on June 2, 2016 by CFIUS, which issued a … Continue Reading
TPP – ITC Report Released. Late Wednesday afternoon, the ITC released its report on the effects of the proposed TPP on the U.S. economy. The nearly 800-page report examines specific industry sectors in the United States and seeks to ascertain which would benefit or suffer from the deal. U.S. Trade Representative Michael Froman immediately issued … Continue Reading
