The U.S. is likely to continue using export controls, investment restrictions and other economic policy tools against China this year, particularly as the upcoming presidential election draws closer, trade and economic policy experts said this week.
The House on Jan. 12 passed a bill aimed at helping the Treasury Department find terrorists, Russian oligarchs and corrupt government officials.
The House Select Committee on China has sent letters to the chief executives of U.S. chipmakers Intel, Nvidia and Micron Technology asking them to testify before the panel about the challenges their industry faces, a person close to the committee said Jan. 12, confirming a Financial Times report. A hearing date has not yet been determined, the person said.
McLarty Associates co-founder Nelson Cunningham has been nominated to replace Jayme White as deputy U.S. trade representative. White was responsible for negotiations in the Western Hemisphere, Europe and the Middle East, and also had some labor and environmental issues in his portfolio.
Democratic Sens. Dick Durbin of Illinois and Tim Kaine of Virginia announced Jan. 9 that they plan to oppose a provision in the Biden administration’s fiscal year 2024 supplemental appropriations request that would waive congressional oversight requirements for U.S. funding provided to Israel under the Foreign Military Financing program.
Republican Reps. Chris Smith of New Jersey and Maria Elvira Salazar of Florida, both members of the House Foreign Affairs Committee, introduced on Jan. 11 a bill that would impose economic sanctions on Nicaragua’s government for human rights violations, including the persecution of clergy and political dissidents and the forced exile of thousands of people.
The Senate Banking Committee held a hearing Jan. 11 to renew its push for congressional passage of the Fentanyl Eradication and Narcotics Deterrence (FEND) Off Fentanyl Act, which would use sanctions and anti-money laundering measures to counter the illicit fentanyl supply chain that is blamed for tens of thousands of American deaths annually.
Members of the U.K. Parliament this week questioned whether the government should be imposing more restrictions on China, including through human rights sanctions on Hong Kong officials and export restrictions on a broader range of Chinese technology companies. They also urged the U.K. to share the results of a possible review of its arms export policies toward Israel, which at least one member said hasn’t been transparent.
The Commerce Department plans to announce a “department-wide” strategy in the “weeks ahead” that will address its major priorities in national security, Deputy Commerce Secretary Don Graves said on Jan. 9.
The U.S. shouldn’t rush to impose new export controls on sensitive lidar technology, experts said, mostly because American firms may not have chokepoints over lidar and the restrictions may hurt U.S. export revenue.