On August 9, 2023, President Biden issued his much anticipated executive order on outbound U.S. investment in China, Hong Kong, and Macau (dubbed “reverse CFIUS”). The Treasury Department simultaneously released an advance notice of proposed rulemaking (ANPRM) related to the order. Public comments on the ANPRM will be accepted until September 28. The final rule
New CHIPS and Science Act funding has national security stipulations
The U.S Department of Commerce recently released the first of three expected Notices of Funding Opportunities under the CHIPS and Science Act of 2022. This act aims to develop the domestic semiconductor supply chain, provide jobs, restore the country’s leadership in semiconductor manufacturing, and advance U.S. national and economic security.
In our latest alert, found on reedsmith.com
China imposes sanctions against two U.S. companies under its Unreliable Entity List
Amid heightened tensions between the U.S. and China, the Ministry of Commerce of the People’s Republic of China recently announced measures to add Lockheed Martin Corporation and Raytheon Missiles & Defense to its Unreliable Entity List, which, amongst other things, bars both U.S. companies from import and export trade with China and any new investment
U.S. Disruptive Technology Strike Force – how can companies prevent and respond to potential diversion?
The Department of Justice (DOJ) and the Department of Commerce announced the creation of a joint Disruptive Technology Strike Force on February 16, 2023. The strike force will be co-led by the assistant attorney general for the DOJ’s National Security Division and the assistant secretary for export enforcement at the Bureau of Industry and Security.
China’s access to semiconductors and high-performance chips restricted by BIS
The Bureau of Industry and Security (BIS) has implemented new, unilateral export controls to restrict China’s ability to manufacture advanced semiconductors, obtain high-performance chips, and develop and maintain supercomputers.
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What you should know: CFIUS penalty guidelines make cross-border transactions more complex
The Committee on Foreign Investment in the United States (CFIUS or the Committee) released its first-ever enforcement and penalty guidelines.
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U.S. anti-boycott laws: companies’ foreign subsidiaries face enforcement clampdown
On October 6, 2022, the U.S. Commerce Department’s Bureau of Industry and Security (BIS) made four enhancements to its anti-boycott enforcement.
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BIS reviews enforcement strategy in relation to export control and antiboycott laws – what to expect
Assistant Secretary for Export Enforcement, Matthew S. Axelrod, has previewed some of the ways the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) will change its approach to enforcing export control and antiboycott laws. BIS’s proposed changes in policy seek to further increase transparency, strengthen compliance, and incentivize deterrence.
BIS’s approach echoes similar