On Aug. 9, 2023, the Biden administration issued a long-anticipated Executive Order restricting equity, venture capital, and joint venture investments in China. The Executive Order on Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern for the first time will prohibit certain U.S. outbound foreign investment transactions, and in
On July 25, 2023, the Senate voted 91 to 6 to approve the Outbound Investment Transparency Act as an amendment to the National Defense Authorization Act. The legislation was proposed by Sens. John Cornyn (R-TX) and Bob Casey (D-PA). It would require companies to disclose investments or acquisitions involving entities in China, Russia, Iran, and
When Congress returns this week, it will have a lengthy agenda waiting. The U.S. House of Representatives is only scheduled to be in session for six more weeks prior to the election, and the U.S. Senate for eight weeks before November. Time is of the essence.
Here is a snapshot of that agenda.
Congress has been working for several months on “China competitiveness” legislation, which may turn out to be the most far-reaching legislation of 2022. On February 17th, the House-passed “America COMPETES Act” (“COMPETES”) was officially received in the Senate, which may clear the way to begin a formal “conference committee” to resolve differences between that bill
On June 8th, the U.S. Senate passed S.1260, the United States Innovation and Competition Act (USICA). The legislation strengthens manufacturing and basic research in key industry sectors and is intended to provide a policy framework for competing with China. The legislation combines several bills from different Senate committee jurisdictions, including the Endless Frontier