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) US, Japan, South Korea Promise to Improve Supply Chain Monitoring at Camp David Summit; (2) CFIUS Expands List of Sensitive Military and Government Facilities; and (3) China Issues Foreign Investment Guidelines.

US, Japan, South Korea Promise to Improve Supply Chain Monitoring at Camp David Summit

On August 18, President Biden hosted Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol at Camp David to discuss their trilateral partnership. Besides reaffirming their commitment to regular government meetings and discussing national security issues, the group announced the creation of a Supply Chain Early Warning System (“EWS”) pilot program, among other supply chain-related issues.

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CFIUS Expands List of Sensitive Military and Government Facilities

A final rule issued by the US Department of Treasury, which chairs the Committee on Foreign Investment in the United States (“CFIUS”), adds several new facilities to CFIUS’s list of sensitive military and government installations. As a result, CFIUS now has jurisdiction over acquisitions of real estate located near these facilities. The additions finalize a proposed rule issued in May 2023.

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China Issues Foreign Investment Guidelines

On August 15, the Chinese State Council (essentially, the Chinese cabinet) released new guidelines titled “Opinions on increasing efforts to attract foreign investment.” While these guidelines are not binding on the Chinese government, they provide insight into coming legal and regulatory priorities from the government, as quarterly foreign investment in China hit a 25-year low earlier this year.

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