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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.
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