The Biden administration needs to conduct a full review of its current sanctions against Iran before lifting any of the designations as part of a potential nuclear deal, said Rep. Michael McCaul of Texas, the top Republican on the House Foreign Affairs Committee. McCaul pointed to the requirements under the Countering America’s Adversaries Through Sanctions Act, which states the administration must conduct the sanctions review before Aug. 2.
Commerce Secretary Gina Raimondo told senators repeatedly during her testimony at a Commerce Committee hearing that the conference process for the House and Senate's China packages needs to get done as soon as possible, because other countries are offering funds to chipmakers, and companies are looking to plan new plants, because demand is so high. Raimondo said she's spoken with all the American chipmakers, and it's clear to her that if Congress doesn't act, those companies will invest in Germany, Singapore, France or Spain rather than Ohio or Arizona. Raimondo said, "They want to operate in our country, but they cannot wait. They are going to build, and if we don’t act quickly with USICA, they’ll build elsewhere."
A bill that would authorize the administration to confiscate any property valued at more than $5 million from a Russian oligarch who has already been sanctioned for involvement in the Ukraine invasion passed the House 417-8.
A dozen members of the House of Representatives are asking U.S. Trade Representative Katherine Tai to change the administration's strategy on the Indo-Pacific Economic Framework to move it closer to a traditional trade agreement, including asking partners to lower tariffs for U.S. exports (see 2204120058). The April 12 letter, led by Reps. Stephanie Murphy, D-Fla., and Carol Miller, R-W.Va., also was signed by the ranking member of the House Ways and Means Trade Subcommittee, Rep. Adrian Smith, R-Neb.
A new House bill would allow the U.S. to block and sanction certain crypto exchanges if they facilitate transactions with Russia-based addresses. The Russian Digital Asset Sanctions Compliance Act of 2022, introduced by House Democrats April 6, would be a “significant step towards” restricting crypto exchanges from “providing services for Russia-based cryptocurrency wallets,” the lawmakers said. The bill also would authorize sanctions against anyone that the Treasury Department determines “to be significantly and materially facilitating digital asset transactions in violation of sanctions.” The bill is a companion to Senate legislation introduced in March.
Laurie Locascio, President Joe Biden’s nominee to be the Commerce Department’s undersecretary for standards and technology, was confirmed by the Senate April 7. Locascio, previously the vice president for research at the University of Maryland, was initially nominated last year. With no vote held before the end of last year’s session, the administration was required to resubmit the nomination (see 2107210006). Locascio will head the National Institute of Standards and Technology, which has been asked by industry to make it easier for U.S. firms to participate in standards bodies that have members that are on the Entity List (see 2111030009 and 2112170037).
The Democratic and Republican leadership in the House of Representatives selected members to serve on a massive conference committee with the goal of working out a compromise between the Senate and House visions for a China package. The trade titles of the two bills diverge significantly, and the members who will represent House points of view on trade are:
A Burma sanctions bill called Burma Unified Through Rigorous Military Accountability Act of 2021, or BURMA Act, passed the House by a voice vote April 6.
Eight members of the House, led by Rep. Ron Kind, D-Wis., are asking the Office of the U.S. Trade Representative to continue to push Canada to reform its dairy tariff rate quota system so that it fulfills USMCA commitments to open its market to a wide variety of dairy products.
The House Foreign Affairs Committee passed a bill on for further consideration that would require the administration to determine whether a person or a foreign financial institution is covered by either Executive Order 14024 (see 2203090036) or Executive Order 14039, (see 2108230061). The administration would have to justify who is covered if either the chair or ranking member of the House Foreign Affairs Committee or the Senate Foreign Relations Committee asks it to. The bill says the administration would have to respond to a request within 60 days. The voice vote in committee was April 5. It was co-sponsored by Rep. Dan Meuser, R-Pa., and Rep Susan Wild, D-Pa.