The Trump administration should look to negotiate new types of economic and trade deals that are centered on economic security issues, such as export controls and investment screening measures, the Center for a New American Security said in a new report this week. The think tank also called on President Donald Trump to create an economic security strategy, which should outline avenues to strengthen export control enforcement.
President Donald Trump and lawmakers should carry out a “comprehensive” review of past U.S. technology and investment restrictions involving semiconductors, including the range of recent export controls over advanced chips and related equipment that resulted from the Biden administration’s “small yard, high fence” strategy, the chip industry said.
The chairman of the House Select Committee on China said Jan. 22 that the U.S. should take a harder line against China's aggressive policies on trade, investment and other matters.
Export Compliance Daily is providing readers with the top stories from last week in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.
The Treasury Department recently published more guidance on its outbound investment prohibition and notification rules (see 2412160044), including new FAQs on how certain portions of the rules apply to in-house lawyers, the rule’s “knowledge standard,” the scope of transactions that are covered, and joint filings.
President Donald Trump took several steps during his first day in office to reverse, delay or scrutinize trade- and sanctions-related actions introduced by the Biden administration, ordering agencies to study existing export controls for possible loopholes, consider changes to outbound investment restrictions, or possibly postpone some of Biden’s recently issued rulemakings. Trump also revoked a sanctions authority that had targeted Israeli settlers in the West Bank and previewed plans to step up sanctions against drug cartels.
Jake Sullivan, in one of his final public appearances as national security adviser under President Joe Biden, urged the incoming Trump administration to continue imposing technology restrictions against China and to do so in coordination with U.S. allies.
California-based machine tool manufacturer Haas Automation will pay more than $2.5 million to the U.S. government after being accused of illegally shipping parts and other items to sanctioned and Entity Listed companies in China and Russia.
The Office of Foreign Assets Control fined a Miami-based real estate firm and its owner more than $1 million after the agency said they helped two sanctioned Russian oligarchs transfer their luxury condominiums to their non-sanctioned family members. The firm, Family International Realty LLC, “engaged in a willful scheme” to evade U.S. sanctions against Russia, OFAC said, and earned about $180,000 in commission fees for helping to manage the properties.
Scott Bessent, President-elect Donald Trump’s choice for Treasury secretary, said Jan. 16 that the U.S. should institute a “very rigorous screening process” to ensure its outbound investment does not help China catch up to the U.S. in such key technology areas as artificial intelligence, computing chips, quantum computing and surveillance.