A bipartisan bill could place new sanctions on Huawei and other Chinese technology companies by adding them to the Treasury Department’s Specially Designated Nationals List. The bill, introduced in the Senate this week by Sens. Tom Cotton, R-Ark.; Chris Van Hollen, D-Md.; Chuck Schumer, D-N.Y.; and Rick Scott, R-Fla., would impose financial sanctions on “untrustworthy Chinese 5G producers who engage in economic espionage against the United States,” the lawmakers said, and “effectively freeze them” from using the U.S. financial system. Rep. Mike Gallagher, R-Wis., introduced a companion bill in the House.
U.S. lawmakers unveiled legislation this week that would block certain transactions with TikTok or other social media companies under the influence of China, Russia and several other foreign countries. The Averting the National Threat of Internet Surveillance, Oppressive Censorship and Influence, and Algorithmic Learning by the Chinese Communist Party Act, introduced in the Senate by Marco Rubio, R-Fla., and in the House by Reps. Mike Gallagher, R-Wis., and Raja Krishnamoorthi, D-Ill., “would protect Americans by blocking and prohibiting all transactions” with TikTok, the lawmakers said.
Technology competition with China, including U.S. foreign direct investment reviews, will be part of the oversight priorities of the Republican-controlled House during the next Congress, House Minority Leader Kevin McCarthy of California said last week.
Rep. Jason Smith, R-Mo., speaking at an event hosted by Punchbowl News, asserted he will be the next chairman of the House Ways and Means Committee, not Rep. Vern Buchanan, R-Fla.
The top Republican on the House Ways and Means Committee said Republican and Democratic staff on the committee "haven’t had extensive discussions on GSP and MTB, and won't, my sense is, as long as there’s an insistence on [linking them to renewing] Trade Adjustment Assistance."
Sens. Rob Portman, R-Ohio, and Chris Coons, D-Del, laid out parameters of a trade package they hope to get passed in the next three weeks in Congress.
The Congressional Research Service this week updated its report on U.S. sanctions against Venezuela, outlining the types of designations imposed on the country and policy considerations for the U.S. government and Congress. The report now reflects the Treasury Department’s decision last month to grant Chevron a general license to resume certain oil activities in Venezuela for the first time in years (see 2211280042). CRS said “fluctuations in oil prices also have put pressure on U.S. and European officials to find alternate sources to replace Russian-supplied oil.”
Nearly 60 agricultural trade groups, companies and ag services providing trade groups asked Senate Majority Leader Chuck Schumer, D-N.Y., to schedule confirmation votes for the chief agricultural negotiator at the Office of the U.S. Trade Representative and for the undersecretary of agriculture for trade and foreign agricultural affairs at USDA.
Sen. Mark Warner, D-Va., one of the primary movers behind the Chips Act, told an audience that more domains need policymakers' attention so that they don't wake up to find that China has become dominant in an important emerging technology. He noted that before becoming a politician, he "was in the telecommunication space," and said that realizing that China is dominating 5G with two heavily subsidized champion companies was the "final wake-up call" that engagement and deeper trade with China is not the right way to go.
Republicans on House Oversight and Commerce committees are seeking additional documents and information from TikTok about its data collection activities after previous rounds of questioning left some issues unresolved. Rep. Cathy McMorris Rodgers, R-Wash., the top Republican on the Committee on Energy and Commerce, and Rep. James Comer, R-Ky., the top Republican on the Committee on Oversight and Reform, said they hope more information can aid the Biden administration to mitigate any “potentially negative consequences to U.S. national security” resulting from TikTok’s operation in the U.S.