The House of Representatives passed bills related to trade and economic security: addressing IP protection, procurement of Uyghur Region-origin goods, Chinese cultural missions in the US, and Export License reporting to Congress.
Friday's surprise announcement that the Commerce Department has opened a Section 232 investigation on the import of commercial aircraft, jet engines and parts further confirms the embrace of the mechanism by the Trump administration. Since January 20, 2025, the U.S. Department of Commerce has initiated seven Section 232 investigations under the Trade Expansion Act of 1962, focusing on imports deemed critical to national security.
Nippon Steel continued to state its intention to acquire U.S. Steel, emphasizing the strategic importance of the deal amid rising trade uncertainty and continued U.S. tariffs under President Donald Trump. Lawmakers and the United Steelworkers President David McCall remain opposed to the transaction, while rank and file sentiment is mixed.
The Trump administration reportedly has revoked the AI Diffusion Rule just one week before it was set to take effect. The rule, issued in the final weeks of the Biden administration, would have significantly expanded export license requirements for AI chips, applying them broadly to nearly all countries to prevent diversion to China.
Treasury’s Office of Foreign Assets Control (OFAC) today sanctioned a major Chinese "teapot" refinery and several port operators, shipping firms, vessels, and individuals involved in importing Iranian oil, as part of its ongoing campaign to restrict Iran’s petroleum revenues.
The U.S. Department of the Treasury announced today the launch of a pilot Fast Track Program aimed at streamlining foreign investment review for investors from allied and partner nations. The initiative includes the development of a “Known Investor” portal to allow the Committee on Foreign Investment in the United States (CFIUS) to collect preliminary information from eligible investors before formal filings.
Senator Bernie Moreno (R-Ohio) has urged the Department of Commerce to expand Section 232 tariffs on steel derivative products to cover the full value of imported steel-intensive appliances, citing a surge in foreign imports undermining domestic manufacturing.
On May 6, 2025, the House Select Committee on the Chinese Communist Party (CCP) issued a bipartisan letter expressing national security concerns regarding Unitree Robotics, a Hangzhou-based robotics company. Unitree Robotics holds a dominant position in the global quadruped robot market,
America’s leadership in drug innovation is eroding as pharmaceutical companies increasingly source new compounds from China, former FDA Commissioner Scott Gottlieb warns in STAT. In 2024, one-third of all new drugs licensed by U.S. firms originated in Chinese labs — a stark contrast to five years ago, when that number was zero.
The European Union has proposed fresh sanctions targeting companies in Vietnam, Turkey, and Serbia accused of enabling Russia to evade existing embargoes,. The 17th package of EU sanctions since Russia’s full-scale invasion of Ukraine also seeks to blacklist 149 oil tankers operating in Moscow’s “shadow fleet” and approximately 60 individuals and entities based in Russia and China.
Treasury’s Office of Foreign Assets Control (OFAC) today designated the Karen National Army (KNA), a Burmese militia group, as a transnational criminal organization under Executive Order (E.O.) 13581, as amended. OFAC also sanctioned KNA leader Saw Chit Thu and his sons for their roles in cyber scam operations, human trafficking, and cross-border smuggling that have harmed U.S. citizens.
Representative Bill Foster (D-IL) plans to introduce legislation requiring U.S. regulators to implement technical measures for tracking the location of advanced artificial intelligence (AI) chips, such as those manufactured by Nvidia, and to prevent their unauthorized use under export control laws.
U.S. Representatives Michael McCaul (R-Texas), and Bill Huizenga (R-Mich.), have introduced H.R. 3068, the Missile Technology Control Revision Act, aimed at reforming missile technology export rules and to enhance allied defense cooperation. The legislation seeks to amend the Arms Export Control Act of 1976 to expedite defense trade with U.S. allies by authorizing the President to exempt designated countries from certain export restrictions.
Credit Suisse Services AG pleaded guilty today to conspiring to help U.S. taxpayers hide over $4 billion in at least 475 offshore accounts. The Swiss company also entered a non-prosecution agreement with the DOJ’s Tax Division and the U.S. Attorney’s Office for the Eastern District of Virginia, admitting it maintained undeclared U.S. accounts at Credit Suisse AG Singapore valued at over $2 billion between 2014 and 2023. The conduct violated a 2014 plea agreement.
Two congressional China Hawks have called on the Securities and Exchange Commission (SEC) to delist Chinese companies tied to the Chinese Communist Party (CCP) from U.S. exchanges, citing serious national security concerns and investor risks
The Trump administration is reportedly preparing to formally reimpose restrictions on the participation of Cuban baseball players in Major League Baseball (MLB), according to a leak obtained by journalist Daniel de Malas, press chief of the Cuban Professional Baseball Federation in Exile (FEPCUBE).
On May 2, 2025, the Trump administration submitted its discretionary budget proposal for fiscal year (FY) 2026, calling for a $163 billion cut (approximately 23%) in non-defense discretionary spending compared to FY2025, while increasing defense funding by 13% to $1.01 trillion and allocating $175 billion to border security. A portion of this increase—$325 billion—is expected to be enacted via reconciliation. The Commerce budget includes $134 million in targeted investments to "strengthen trade enforcement and aggressively protect American innovation." This includes an additional $122 million for the Bureau of Industry and Security, a more than 50-percent increase, while cutting $145 million from the category "International Trade Administration – Global Markets."
The imposition of sweeping U.S. tariffs has precipitated a significant downturn in transpacific trade, affecting both air and sea freight sectors. The termination of the de minimis exemption for shipments under $800 from China and Hong Kong, coupled with elevated tariffs reaching up to 145%, has led to widespread cancellations and a sharp decline in shipping volumes.
The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) has announced a partially closed meeting of the Transportation and Related Equipment Technical Advisory Committee (TRANSTAC) scheduled for May 21, 2025, from 9:30 a.m. to 2:00 p.m. ET, in Washington, D.C.
Federal contractors are facing significant cost pressures following the Trump administration’s sweeping tariff increases, with baseline duties of 10% on most imports and up to 145% on goods from China now in effect.