The full European Parliament last week voted to expand the bloc’s foreign direct investment screening rules, which would add more sectors to the scope of restrictions and allow the European Commission to intervene in member state disagreements.
Sen. Tom Cotton, R-Ark., introduced a bill last week that would require export-controlled advanced computing chips to contain location verification mechanisms to prevent their diversion to “adversaries” such as China.
The U.S. needs to better enforce its existing export controls on advanced AI chips and chip equipment while bolstering its ability to screen Chinese investments that may be looking to evade those restrictions, several witnesses told Congress this week. But another witness said the current U.S. chip controls have so far failed and called on the government to rework its export control strategy.
Rep. Bill Huizenga, R-Mich., reintroduced a bill May 5 designed to strengthen sanctions against several sources of funding for Myanmar’s military.
Sens. Ted Cruz, R-Texas, and Pete Ricketts, R-Neb., welcomed the Trump administration’s decision to rescind and replace the Biden administration’s AI diffusion rule (see 2505070039), while House Select Committee on China Chairman John Moolenaar, R-Mich., offered a more guarded response.
The Treasury Department will create a new fast-track process for certain deals filed with the Committee on Foreign Investment in the U.S., the agency announced May 8, saying the process will help encourage more investments in American businesses from close U.S. allies.
Six Senate Democrats -- led by Banking Committee ranking member Elizabeth Warren of Massachusetts and Foreign Relations Committee ranking member Jeanne Shaheen of New Hampshire -- urged the Trump administration May 5 to increase sanctions on Russia to pressure Moscow to end its war on Ukraine.
All 24 members of the House Select Committee on China urged the Trump administration May 6 to consider adding Chinese robotics company Unitree to the Bureau of Industry and Security's Entity List and the Pentagon's Section 1260H list of Chinese military companies.
The Trump administration needs a “bit more time” to review a congressional proposal to restrict U.S. outbound investment in China, Treasury Secretary Scott Bessent said May 7.
The EU and the U.K. should strengthen trade and security ties in response to rising geopolitical tensions and threats posed by Russia, top European Parliament members said ahead of the first EU-U.K. summit May 19.