President Donald Trump told reporters that unless China stops fentanyl shipments, resumes buying U.S. soybeans and stops playing "the rare earth game with us," he won't lower tariffs.
U.S. Trade Representative Jamieson Greer, in a joint press conference with Treasury Secretary Scott Bessent, said the administration has already drafted some documents to hike tariffs on Chinese goods, and is drafting other documents that might impose more export controls for goods sold to Chinese firms.
President Donald Trump reacted angrily to China's plan to expand export restrictions, including when rare earths are in products made abroad (see 2510090021. In a social media post that seemed to trigger a 2.7% drop in the S&P 500, he wrote, "Dependent on what China says about the hostile 'order' that they have just put out, I will be forced, as President of the United States of America, to financially counter their move. For every Element that they have been able to monopolize, we have two."
The Bureau of Industry and Security is looking to continue moving away from proposed rulemakings and instead issue most new rules as interim final or final, said two people with knowledge of the agency’s plans.
Lawmakers are drafting legislation to codify the authority that the Office of Information and Communication Technology and Services uses to place import restrictions on Chinese connected vehicles and other technologies, said Jeffrey Kessler, undersecretary of the Bureau of Industry and Security.
Auto sector manufacturers and importers will have 425 days to cut Chinese software that enables automated driving systems or enables a vehicle to connect to the outside world at a frequency above 450 MHz from their supply chains, according to a final rule from the Bureau of Industry and Security set to be published Jan. 16.
The Office of the U.S. Trade Representative opened an investigation into Chinese manufacturing of legacy (or foundational) semiconductors, "including to the extent that they are incorporated as components into downstream products for critical industries like defense, automotive, medical devices, aerospace, telecommunications, and power generation and the electrical grid."
Nearly half of U.S. companies surveyed by the Bureau of Industry and Security this year said they didn’t know whether their products contained any Chinese-made, mature-node semiconductors, BIS said in a summary of those survey results released Dec. 6.
Automakers, chipmakers and broad business groups asked the Bureau of Industry and Security to give their industries more time to adjust to new requirements to move supply chains out of China and report on what companies are in their connected vehicle supply chains.