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 new executive order clarifying CFIUS review criteria; (2) the update on BIS license requirements surrounding international standards-setting bodies; (3) the latest List of Goods Produced by Child Labor or Forced Labor; and (4) the conclusion of the Administration’s Section 232 investigation into imports of NdFeB magnets.

New Executive Order Clarifies CFIUS Review Criteria

On September 15, President Biden signed an Executive Order clarifying the factors that the Committee on Foreign Investment in the US (“CFIUS”) may use to determine whether a transaction poses a risk to U.S. national security. 

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BIS Clarifies License Requirements for Activity at International Standards-Setting Bodies

On September 9, 2022, the Department of Commerce’s Bureau of Industry and Security (BIS) published an interim final rule in the Federal Register that clarifies the license requirements needed for U.S. companies to release low-level technology in order to participate in international standards-setting activities. 

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U.S. Department of Labor Publishes 10th Edition of List of Goods Produced by Child Labor or Forced Labor, Focus Includes China

On September 28, 2022, the U.S. Department of Labor published the 10th edition of its List of Goods Produced by Child Labor or Forced Labor. The Bureau of International Labor Affairs (“ILAB”) within the Department of Labor maintains a list of goods and their source countries which it has reason to believe are produced by child labor or forced labor in violation of international standards, as required under the Trafficking Victims Protection Reauthorization Act (“TVPRA”) of 2005. Under the TVPRA, ILAB must submit a list of foreign-made goods that it has reason to believe are produced by forced and/or child labor in violation of international standards to Congress every two years. The 10th edition of the List comprises 158 goods from 77 countries, adding 32 goods, including two new ones: dairy products and açaí berries.

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Biden Administration Concludes Section 232 Investigation into Imports of NdFeB Magnets but Does Not Impose Tariffs

On September 21, 2022, the U.S. Department of Commerce’s (“Commerce”) Bureau of Industry and Security announced the findings of its investigation into the national security impacts of imports into the U.S. of Neodymium-Iron-Boron Permanent Magnets (“NdFeB magnets”), pursuant to Section 232 of the Trade Expansion Act of 1962 (“Section 232”). NdFeB magnets are used in a wide range of critical and defense uses, including electric vehicles, solar turbines, ship propulsion systems, and guided missile actuators.

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