Ecuador on Aug. 1 hosted the first in-person meeting of trade ministers of the Americas Partnership for Economic Prosperity, at which Western Hemisphere countries adopted a “Declaration on Good Practices for Pre-Arrival Processing” and made other trade commitments.
Trade groups, lawyers, investment firms, technology companies and foreign governments suggested a range of changes to the Treasury Department’s proposed outbound investment rules (see 2406210034), echoing calls last year for more clarity surrounding the due-diligence steps that will be required of deal-makers and warning that the U.S. risks chilling a broad range of U.S. ventures in China (see 2310050035). Several commenters also urged the Biden administration not to finalize the new prohibitions without similar buy-in from allies, with at least one group suggesting the U.S. is further from coordinating the rules among trading partners than it has let on.
Sen. Cynthia Lummis, R-Wyo., introduced a bill Aug. 1 that would prevent Chinese Communist Party agents or businesses from buying real estate next to U.S. federal land. Her legislation was referred to the Senate Foreign Relations Committee and is co-sponsored by Sens. John Barrasso, R-Wyo.; Tom Cotton, R-Ark.; and Mike Crapo, R-Idaho. The bill is a companion to legislation Rep. Dan Newhouse, R-Wash., introduced in June (see 2406120055).
Senate Foreign Relations Committee Chairman Ben Cardin, D-Md., Aug. 1 encouraged U.S. allies and partners to impose more sanctions on those waging Sudan’s civil war.
The Senate Appropriations Committee is concerned that Chinese Communist Party-backed companies may be “exploiting” the U.S. bankruptcy process to obtain American companies’ sensitive and proprietary information, the panel wrote in a new report accompanying its version of the FY 2025 Financial Services and General Government Appropriations Act.
Sen. Rand Paul, R-Ky., a frequent critic of Saudi Arabia, introduced a joint resolution July 30 to disapprove a possible $2.8 billion military sale to the kingdom. The resolution was referred to the Senate Foreign Relations Committee. The sale, which the Defense Security Cooperation Agency announced July 23, includes “follow-on logistics support and services” for defense-related hardware and parts (see 2407240002).
House Foreign Affairs Committee Chairman Michael McCaul, R-Texas, urged the Biden administration July 31 to speed up the delivery of critical weapon systems to Israel following Hezbollah’s recent attack that killed 12 children in Israel’s Golan Heights.
Sen. Marco Rubio, R-Fla., introduced several bills this week targeting human rights violations and foreign investment by China.
Sen. Marco Rubio, R-Fla., introduced a bill this week aimed at countering the use of alternative financial systems by China, Russia and other "countries of concern" to evade U.S. sanctions.
The Biden administration continues to consider imposing additional sanctions to reduce China’s export of dual-use goods to Russia’s defense industrial base, a State Department official told a congressional panel July 30.