If U.S. policymakers become tempted to use sanctions to prevent a potential conflict with China, they should expect to face a wide range of challenges in wielding such economic tools, speakers said at a Dec. 15 event hosted by the Center for a New American Security.
A trade group is urging the Bureau of Industry and Security to revise its export controls surrounding encryption and mass-market goods, saying some of those less-sensitive items should no longer be subject to strict license requirements. The group also asked BIS to eliminate some encryption-related reporting requirements that burden compliance professionals and said the agency should devote more resources to its licensing division, which will help speed up decisions on applications and classification requests.
The Treasury Department is preparing a response to questions it received from Congress about some of the money Iran has received through recent U.S. sanctions waivers, a Treasury official said Dec. 13.
Reps. Nathaniel Moran and Michael McCaul, Republicans from Texas, introduced a bill to make permanent U.S. export control regulations that prohibit foreign countries from transferring certain U.S. technology to Iran.
The leaders of the House Select Committee on China urged the Biden administration on Dec. 14 to sanction Chinese and Hong Kong officials who are responsible for a new crackdown on pro-democracy activists.
The House Foreign Affairs Committee on Dec. 13 advanced several bills that would revise U.S. export control regulations and procedures for dual-use technology.
The semiconductor industry is pushing the Biden administration for more transparency surrounding its future plans for export controls on chips and chip tools, saying the uncertainty is causing more foreign customers to avoid using advanced U.S.-origin technology. The industry also warned that China has seen a sharp uptick in domestic orders for chips and chipmaking equipment following the most recent U.S. controls, potentially jeopardizing sales to the American semiconductor industry’s largest market.
The Bureau of Industry and Security is working more closely with the Office of Foreign Assets Control on enforcement issues, which could allow the two agencies to better align the BIS Entity List and OFAC’s Specially Designated Nationals List, a BIS official said this week.
The Biden administration’s recent decision to remove China’s Institute of Forensic Science (IFS) from the Entity List has led the Chinese government to become more helpful, at least initially, in stemming the flow of illegal fentanyl drugs to the U.S., Bureau of Industry and Security officials said.
Congress should require the Biden administration to strengthen export controls against China and give it new tools to restrict a broader range of inbound and outbound investments, the House Select Committee on China said in a Dec. 12 report.