A Missouri-based defense contractor illegally sent export-controlled military technology data overseas to produce items for his contracts with the Defense Department, DOJ announced last week.
Exports to China
The Treasury Department last week released its 2024 money laundering, terrorist financing and proliferation financing risk assessments, highlighting areas where companies can focus compliance resources and help “inform their own risk mitigation strategies.”
For Sen. Chris Coons, D-Del., the future of U.S. trade policy is to make climate a trade policy priority, work with global allies to set digital trade standards and deepen the U.S. trading relationship with the global south.
A task force created by the House Foreign Affairs Committee has released a report proposing a series of changes to speed up the delay-prone Foreign Military Sales (FMS) process.
An investigation by the House Select Committee on China found that five U.S. venture capital firms have invested more than $3 billion in Chinese technology companies, many of which aid China’s military, surveillance apparatus and human rights violations, the committee said on Feb. 8.
DOJ this week announced charges involving two illegal technology transfer schemes, which were meant to benefit the Chinese and Iranian governments.
Hesai Technology, the largest Chinese lidar company by sales, plans to sue the Pentagon for adding it to a list of companies with ties to China’s military (see 2402010018), the company announced Feb. 8. Hesai was added to the list “without any explanation or justification,” CEO Yifan Li said, calling the U.S. decision “unjust, capricious, and meritless.”
The Treasury Department is likely to release its draft outbound investment regulations in the next several months, setting them up to potentially take effect before year's end, said foreign investment lawyer Jonathan Gafni of Linklaters.
U.S. priorities during the World Trade Organization's upcoming 13th Ministerial Conference should center on extending the moratorium on e-commerce duties and advancing the second wave of talks on curbing harmful fisheries subsidies, witnesses said at a Feb. 7 hearing of the House Ways and Means Subcommittee on Trade.
The House Foreign Affairs Committee late Feb. 6 approved a bill that would make inflation-based adjustments to the dollar thresholds that trigger congressional notification of arms sales.