China Trade & Tech

Tax deal includes R&D expensing provisions long sought by tech groups

A tax deal hashed out by House and Senate negotiators and released this week includes long-sought research and development provisions intended to lessen tax burdens on manufacturers. The “ Tax Relief for American Families and Workers Act ” released Tuesday includes a title on “American innovation and growth,” which would reverse a tax code change enacted by the 2017 Tax Cuts and Jobs Act that went into effect on Jan. 1, 2022. The Tax Cuts and Jobs Act required companies...

EU Commission proposes new export control coordination, outbound investment monitoring

A package of economic security initiatives issued on Wednesday by the European Commission includes plans to launch public consultations on how best to bolster export controls and move forward with an outbound investment monitoring program. The Commission laid out a series of initiatives on economic security stemming from the strategy it issued last June . In addition to outbound investment and export controls, the initiatives address foreign direct investment screening, research security and the research and development of technologies with...

GAO: USDA data on foreign-owned land incomplete, should be shared with CFIUS

The Agriculture Department does not know how much U.S. farmland is owned by foreign investors, the Government Accountability Office says in a new report, recommending that USDA better its data collection system and share data with the Defense Department and, by extension, the Committee on Foreign Investment in the U.S. The Jan. 18 report comes amid increasing concerns over the acquisition of U.S. farmland by foreign entities, particularly Chinese companies. Foreign ownership of U.S. agricultural land, the report noted, has...

Senate bill aimed at evaluating, strengthening U.S. critical mineral supply chains

A bipartisan group of senators last week introduced a bill that would direct the Interior Department to take a biennial account of global critical mineral supply chains, evaluate the U.S.’ access to such minerals and reduce reliance on inputs from China. Senate Finance trade subcommittee ranking member John Cornyn (R-TX) and five colleagues on Thursday introduced the “ Critical Minerals Security Act ,” which he said would “help secure U.S. access to critical mineral supply chains and counter Chinese industry...

What’s the big idea? In the years it took Congress to approve and then fund domestic semiconductor manufacturing subsidies, the legislation for those subsidies took on many, many names. Eventually, the Chips and Science Act became law in August 2022. Intel CEO Pat Gelsinger has another new name for the law: Chips I. Gelsinger repeatedly used the Chips I monicker during a discussion this week at the World Economic Forum’s annual meeting in Davos, Switzerland, to differentiate the $52 billion...

China Trade & Tech

What’s the big idea? The European Union knows it’s in the middle of the U.S.-China technology competition and it doesn’t want to get left behind in the techno-arms race – or get caught in the crossfire. So: European Internal Market Commissioner Thierry Breton, in a speech at the European Policy Centre on Wednesday, laid out a three-pillared plan for how the EU can “project itself as a global power.” The first two prongs of Breton’s strategy may sound familiar –...

Chinese minister raises export controls, chip probe in call with Raimondo

Chinese Commerce Minister Wang Wentao on Thursday spoke with Commerce Secretary Gina Raimondo and “expressed serious concern” over U.S. export controls on semiconductor manufacturing equipment and a Commerce Department investigation into the mature-node semiconductor supply chain, his ministry said in a readout. U.S. export controls on advanced semiconductor manufacturing equipment issued in October 2022 and updated in October 2023 led the Dutch government earlier this week to order leading semiconductor equipment manufacturer ASML to restrict the sales of some its...

China: U.S. ‘economic bullying’ in violation of several WTO rules

U.S. export controls on semiconductors and sanctions on Chinese telecommunications companies violate several World Trade Organization principles, the Chinese government said on Monday, citing provisions of several agreements. “The U.S. has been stepping up control over chip export to China and going after China’s semiconductor industry in the name of national security,” Foreign Ministry spokeswoman Mao Ning said at a press conference on Monday, according to an official translation. “This is out-and-out economic bullying.” The Biden administration in October 2022...

House select panel leaders push Tai, Raimondo for action on foundational Chinese chips

The Biden administration should use “all existing trade authorities” – including potential tariffs – or propose any new ones needed to ensure the U.S. will not be reliant on foundational semiconductors from China, the leaders of the House Select Committee on the Chinese Communist Party contend. China has taken steps in recent years to boost its production and output of foundational – also known as “legacy,” “mature,” or “mainstream” – semiconductors, which domestic efforts cannot yet match, committee Chair Mike...

China Trade & Tech

What’s the big idea? The Commerce Department said one of the focuses of its Chips and Science Act implementation would be bolster domestic manufacturing of mature-node semiconductors – and this week, for a second time, it put its money where its mouth is. Commerce on Thursday announced a second preliminary deal to disburse Chips and Science Act funds. The first, announced last month, went to BAE Systems Electronic Systems, and this week Microchip found itself in Commerce’s good – and...

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