The Bureau of Industry and Security is working on another rule to address some of the comments it received from its updated semiconductor export controls released in October (see 2310170055), said Sharron Cook, a senior BIS export policy analyst.
The Bureau of Industry and Security is hoping to publish a rule this summer that would again update or clarify how export controls apply to releases of technology for standards setting or development in standards organizations, said Hillary Hess, director of the BIS regulatory policy division.
Senate Banking Committee ranking member Tim Scott, R-S.C., asked the Treasury Department last week to tell him when it plans to provide lawmakers with an overdue report on Iran sanctions.
The House of Representatives last week approved a proposal that would require the administration to report to Congress on how proceeds from illicit Iranian oil exports are funding Iran’s Islamic Revolutionary Guard Corps and Tehran’s terrorist proxies.
The Group of Seven (G7) nations agreed last week at their summit in Apulia, Italy, to use interest from frozen Russian assets to finance about $50 billion in loans to Ukraine.
The next administration should look to raise criminal penalties for trade theft, broaden the scope of the Committee on Foreign Investment in the U.S. and refocus its export controls on military technologies to better compete with China, the Information Technology and Innovation Foundation said this week. ITIF also said the U.S. should push for a new “techno-economic alliance” of key trading partners and develop a new multilateral export control regime focused on semiconductors and artificial intelligence.
House Foreign Affairs Committee member Rep. Greg Stanton, D-Ariz., during a hearing on competition with China in the Western Hemisphere, argued that the shortages experienced during the COVID-19 pandemic show that businesses should move supply chains to the Western Hemisphere.
Senate Foreign Relations Committee Chairman Sen. Ben Cardin, D-Md., said June 13 that he has made substantial progress in putting together a major China bill since he disclosed several months ago that he was developing such legislation.
Sens. Mitt Romney, R-Utah, and Jacky Rosen, D-Nev., introduced a bill June 11 aimed at preventing foreign terrorists from acquiring unmanned aerial vehicles, which are increasingly used to attack U.S. troops.
Rep. Bill Huizenga, R-Mich., introduced a bill June 11 that would require the Defense and State departments to monitor China’s efforts to build or buy “strategic foreign ports.” The bill was referred to the House Armed Services, Financial Services and Foreign Affairs committees. Additional information was not immediately available.