China may consider raising import tariffs on cars from the EU, the U.S. and possibly elsewhere, the China Chamber of Commerce to the EU said this week.
EU industry gave a wide range of feedback on the European Commission’s January white paper on export controls, saying they support the idea of a new EU-wide forum to coordinate on export restrictions and urged the commission to do more to make sure new controls are introduced evenly across all member states. Others said the EU should set binding deadlines for licensing decisions, fix the bloc’s “vague” export definition for intangible technology transfers, and make it easier for companies to navigate EU member states’ increasingly conflicting export rules.
Principal Deputy National Security Adviser Jon Finer highlighted U.S. and European cooperation on sanctions and export controls while speaking at the Transatlantic Business Summit hosted by the U.S. Chamber of Commerce and BusinessEurope, and said their governments are working on more ways to punish Russia for its aggression against Ukraine.
Treasury Secretary Janet Yellen reaffirmed to Chinese officials last week that the U.S. is not looking to decouple the two economies but wants to see changes to Chinese market conditions that she said are hurting American firms.
Businesses are relieved by the quasi-truce between China and the U.S., consultants and lawyers said on a trade panel last week, but those in the tech sectors expect more restrictions are coming in the near future.
More than a hundred organizations wrote an open letter calling upon governments to unite behind a “zero-tolerance” policy to deter attacks on vessels and seafarers in the Red Sea and “anywhere in the world.” The letter, dated Feb. 8, said that more than 30% of the world’s trade moves through the Red Sea and that the attacks have caused more than $80 billion in cargo to be “diverted” around the Cape of Good Hope.
Technology companies, trade groups, think tanks and researchers urged the government to be cautious as it evaluates its semiconductor-related export controls and prepares new ones, warning that misguided restrictions could cede American technology leadership to China, hurt the competitiveness of U.S. companies and raise the complexity of an already fraught compliance landscape.
Women who advocate for businesses in the EU and in the U.S. complained that while the U.S.-EU Trade and Technology Council is better than nothing, it has neglected the "trade" part of its title.
The Senate voted 87-11 to approve a laddered temporary spending bill that will continue government appropriations at last fiscal year's level through Jan. 19 for some agencies and through Feb. 2 for others.
The U.S. Chamber of Commerce and BusinessEurope issued a joint statement ahead of European Commission President Ursula von der Leyen's visit with President Joe Biden, asking them to "definitively reject protectionism," which the groups said is on the rise, due to "misinformed narratives about industrial decline." She will be in Washington Oct. 20.