Citing national security concerns, President Joe Biden issued an order May 13 prohibiting China’s MineOne from continuing to operate a cryptocurrency mine near Francis E. Warren Air Force Base in Cheyenne, Wyoming.
Three Republican senators urged President Joe Biden last week to follow through on his opposition to the acquisition of U.S. Steel Corp. by Japan’s Nippon Steel Corp.
The House Select Committee on China announced last week it has begun investigating Georgia Institute of Technology’s research collaboration with China’s Tianjin University, which has “significant ties” to China's military and has been on the Commerce Department’s Entity List since 2020 (see 2012180039).
A bipartisan group of four House members, including Foreign Affairs Committee Chairman Michael McCaul, R-Texas, introduced a bill last week that they said would help the Bureau of Industry and Security control exports of artificial intelligence systems and other new national security-related technologies.
The U.S. should form a new export control strategy to better pinpoint the restrictions that will impose the highest costs on China, with a particular focus on technologies where the U.S. and its allies dominate the global market, researchers said. They also said the U.S. should create a new agency or government position to coordinate export controls, sanctions and other economic statecraft tools against China and other adversaries.
While the U.S. should look to counter China with export controls, tariffs and outbound investment restrictions, it also needs to better incentivize trading partners to diversify their supply chains away from China, the Atlantic Council said this week.
A bipartisan group of 10 senators called on the EU May 9 to step up sanctions against Venezuela to address the country’s repression of political opponents.
Four Senate Foreign Relations Committee members introduced a bill May 8 that would require the State and Defense departments to explore adding Japan to the Australia-U.K.-U.S. (AUKUS) security partnership.
Several important authorities that the Bureau of Industry and Security has under the Defense Production Act will expire in September 2025 if the DPA isn't reauthorized, a BIS official said May 8.
The Biden administration, which announced in August 2023 that it would develop restrictions on outbound investment in China (see 2308090066), expects to finalize the new regulations by the end of calendar year 2024, Commerce Secretary Gina Raimondo said May 8.