Policy Briefs

The lead sponsors of the Uyghur Forced Labor Prevention Act (UFLPA),  have written a letter to the Department of Homeland Security Under Secretary, Robert P. Silvers, expressing concerns about the transparency and effectiveness of the law's enforcement.

China is moving ahead with plans to develop a $500 million undersea fiber-optic internet cable network, linking Asia, the Middle East, and Europe, according reporting from Reuters. This ambitious effort, spearheaded by state-owned Chinese telecom firms, is seen as a direct rival to a similar U.S.-backed project and threatens to deepen the ongoing tech war between Washington and Beijing.

The tenth EU-US Energy Council met in Brussels, attended by key representatives from the European Union and the United States. The Council serves as the primary forum for transatlantic coordination on strategic energy issues, aiming to enhance energy security, promote energy efficiency, develop technologies for net-zero emissions, and support research, innovation, and business cooperation.

The Treasury has  published the 2023 DeFi Illicit Finance Risk Assessment, the first illicit finance risk assessment conducted on decentralized finance (DeFi) in the world.

U.S. agro-businesses, participating in a trade tour in Cuba, expressed frustration over the slow progress in boosting commerce with Cuban farmers and called on the Biden administration to ease restrictions, allowing them to invest in the island's private agriculture sector.

Financial Crimes Enforcement Network (FinCEN) published its first set of guidance materials to aid the public, and in particular the small business community, in understanding upcoming beneficial ownership information (BOI) reporting requirements taking effect on January 1, 2024.

Treasury and the Internal Revenue Service released a notice of proposed rulemaking for the Advanced Manufacturing Investment Credit (CHIPS ITC) established by the CHIPS Act of 2022.

“By providing detailed eligibility guidance for this tax credit, we’re equipping taxpayers with the clarity and certainty they need to make investments that will increase semiconductor manufacturing and strengthen America’s semiconductor supply chain,” said Treasury Secretary Janet Yellen. 

Commerce released a Notice of Proposed Rulemaking for the guardrails intended to ensure technology and innovation funded by the CHIPS and Science Act is not used for malign purposes by adversaries.

Two leading senators are calling on the Administration to press the European Union on the discriminatory aspects of EU digital regulations that they say target a handful of US companies.

President Biden’s $6.9 trillion fiscal year 2024 budget request puts an emphasis throughout on out-competing China by increasing investments in domestic manufacturing and infrastructure, while maintaining a strong US presence in the Asia Pacific.

“China is the United States’ only competitor with both the intent to reshape the international order and, increasingly, the economic, diplomatic, military, and technological power to do it,” according to the President’s introduction to his budget.

The Financial Action Task Force (FATF), an intergovernmental body that establishes international standards for anti-money laundering, suspended Russia from its ranks, citing the Russian Federation’s "actions unacceptably run counter to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system.” The FATF also issued long-awaited guidance for members to implement its Recommendation 24, requiring countries to ensure that competent authorities have access to adequate, accurate and up-to-date information on the true owners of companies.

House Foreign Affairs Committee Chairman Michael McCaul released his interpretation of data on licensing outcomes from the Department of Commerce’s Bureau of Industry and Security (BIS) …

Marking the kickoff of a campaign to build support for the extension of Section 702 of the Foreign Intelligence Surveillance Act (FISA), Assistant Attorney General Matthew Olsen defended the measure in a speech at the Brookings Institution February 28th.

The U.S.-China Commission released a new staff research report on China's International Commercial Court (CICC). The report explores the “one-stop shop” dispute resolution center for Belt and Road Initiative (BRI)-related commercial disputes.

The Export-Import Bank of the US announced that September’s ask for $49 million long-term loan guarantee to support the export of approximately $36 million worth of U.S. engineering services and refining equipment has been doubled. …

 The Directorate of Defense Trade Controls (DDTC) has updated the guidance for U.S. persons abroad (USPAB) applications. ...

The omnibus spending bill signed by President Biden allocates the Commerce Department $11.2 billion in net discretionary funding, an increase of $1.3 billion above the previous fiscal year, and an …

U.S. Customs and Border Protection (CBP) began detaining merchandise produced or manufactured by three importers at all U.S. ports of entry on Dec. 5, 2022.  This enforcement action is the result of a CBP investigation …

United States Trade Representative Katherine Tai and Japan's Minister for Economy, Trade, and Industry Nishimura Yasutoshi signed a Memorandum of Cooperation (MOC) to launch a Task Force on the …

The Commission is collecting and will publish stakeholders’ contributions on EU Survey and make them available to the experts of the Member States in the DUCG.  The Commission will also …

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