As global economic and geopolitical environments enter a new era, companies need to continuously develop and adjust their coherent global business strategies to secure and further expand business opportunities in all markets while minimizing political and legal risks by ensuring compliance. To assist you with that task, Mayer Brown’s US-China Trade Monthly provides news and insights related to the latest US developments impacting the US-China bilateral trade relationship. In the current issue, we will discuss: (1) the Commerce Department weighing a new export control regime specifically geared towards China; (2) the recently released US State Department’s 2022 Trafficking in Persons report and its forced labor section; and (3) an overview of the recently signed CHIPS Act.   

Commerce Department Conducting Outreach on New Export Control Regime Focused on China

During a July 20 hearing before the House Foreign Affairs Committee titled “Assessing the U.S. Economic Policy Response to Russia’s Invasion of Ukraine,” Under Secretary of Commerce for Industry and Security Alan Estevez discussed the future of export controls on Russia in response to its invasion of Ukraine, and how this export control regime could be replicated with respect to China.

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State Department Releases 2022 Trafficking in Persons Report, with a Special Focus on Forced Labor

On July 19, the State Department released its 2022 Trafficking in Person (“TIP”) report. In the report, China was classified as a Tier 3 country, consistent with its 2021 ranking, and the worst ranking the Department can give. The 2022 TIP report has a special section discussing alleged forced labor in China, including in Belt and Road Initiative projects, demonstrating that the issue remains a priority for the Biden administration.

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President Biden Signs CHIPS Act into Law

On Tuesday, August 9, President Biden signed the CHIPS and Science Act of 2022 (H.R. 4346) (“the CHIPS Act”). The Act’s goal is to “strengthen American manufacturing, supply chains, and national security, and invest in research and development, science and technology, and the workforce of the future” for “the industries of tomorrow, including nanotechnology, clean energy, quantum computing, and artificial intelligence.” 

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