The U.S. plans to ship 20 million does of the Pfizer, Moderna and Johnson & Johnson vaccines overseas by the end of June, President Joe Biden announced May 17. The U.S. previously announced it would share doses of the AstraZeneca vaccine internationally, but the next rollout will represent the first authorized exports of U.S.-approved vaccines to the rest of the world, Biden said. “We'll share these vaccines in the service of ending the pandemic everywhere,” he said. “And we will not use our vaccines to secure favors from other countries.” White House Press Secretary Jen Psaki told reporters the shipments will be the “most doses donated by any country in the world.”
Marine traffic on the Mississippi River was stopped last week due to a fractured steel support under the Hernando de Soto Bridge, blocking a “vital” shipping lane that transports U.S. agricultural exports bound for China, Bloomberg reported May 14. The bridge, located near Memphis, Tennessee, halted one of the main transport methods for corn and bean exports from the Midwest and spurred speculation about a significant backup in exports, the report said. Officials told Bloomberg last week the bridge could be opened within 48 hours.
Executives from semiconductor and auto industries met last week to discuss the global chip shortage and again urged lawmakers to fund semiconductor legislation that could aid U.S. innovation. The Alliance for Automotive Innovation and the Semiconductor Industry Association held a joint “workshop” May 14 to discuss ways to end the chip shortage as “quickly and efficiently as possible,” the groups said in a statement. They said it will be “critical” to fund the Creating Helpful Incentives to Produce Semiconductors for America Act (see 2102180062) and plan to continue the “constructive dialogue” between industry and lawmakers to boost U.S. chip production.
The U.S.-China Economic and Security Review Commission on May 13 issued an updated table of Chinese companies listed on the Nasdaq, New York Stock Exchange and NYSE American. As of May 5, 248 Chinese companies were listed on those U.S. exchanges.
U.S. goods exports to China rose nearly 20% last year due to large volume shipments of U.S. agriculture products, semiconductors and energy goods, the U.S.-China Business Council said in a May 12 report. The USCBC said the increase -- from $105 billion worth of goods exports in 2019 to $123 billion in 2020 -- was partly driven by Chinese tariff exclusions and purchase commitments under the phase one trade deal with the U.S.
Semiconductor and technology companies are calling for increased federal semiconductor funding amid a congressional push to boost supply chain competitiveness and domestic innovation. The Semiconductors in America Coalition, which includes Semiconductor Industry Association members Apple, Microsoft, Google, Amazon Web Services and others, said its “primary focus” is to convince Congress to fund the Creating Helpful Incentives to Produce Semiconductors for America Act (see 2102180062), a bill passed earlier this year.
The State Department's Defense Security Cooperation Agency on May 10 approved a $1.7 billion military sale to Canada. The sale includes an “AEGIS Combat System” and related equipment. The prime contractor will be Lockheed Martin Rotary and Mission Systems, but a “significant number” of other companies under contract with the Navy will provide components, systems and engineering services.
Two companies weren’t penalized after disclosing potential export control and Foreign Corrupt Practices Act violations to U.S. agencies, according to recent Securities and Exchange Commission filings. A10 Networks Inc., a software and hardware manufacturing company, said in its April 30 filing it received a warning letter from the Bureau of Industry and Security “in lieu of fines and penalties” after voluntarily disclosing potential illegal exports of encryption products (see 2011040041). Pactiv Evergreen, a North American food and beverage packaging company, said in its May 6 filing it disclosed potential FCPA violations to the Justice Department (see 2103040065), but the agency “decided to close its file on this matter without any action against the Company.” Pactiv said it’s awaiting a potential penalty decision from the SEC and can’t predict whether it will be fined.
The Bureau of Industry and Security again extended the comment period on an information collection related to the North Atlantic Treaty Organization’s bidding process, a notice said. The information collection pertains to the process BIS must undergo to determine whether U.S. firms are eligible to participate in NATO’s bidding process and supply certain goods. BIS previously requested comments in January and extended the comment period in March (see 2103170024). The agency said it will extend the comment period by an additional 30 days. Comments are now due by June 9.
President Joe Biden's administration will likely continue a ban on investments in Chinese military companies introduced under his predecessor President Donald Trump (see 2012290017), Bloomberg reported May 6. Although they will likely continue the measures, administration officials are still in “preliminary discussions” and a decision hasn’t yet been made, the report said. One former Trump administration official suggested that Congress codify the investment restrictions. The White House declined to comment.