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diciembre 30 2024

US China Trade Monthly - December 2024

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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 this October 2024 issue, we will discuss the: (1) White House announcing new restrictions on de minimis rules; (2) US House of Representatives passing multiple bills targeting threats posed by the Chinese Communist Party; (3) US Department of Commerce’s Bureau of Industry and Security (BIS) implementing export controls on advanced technology; and (4) BIS proposing controls on connected vehicles and components with links to China and Russia.

US Unveils New UFLPA Entity List Additions of PRC-Based Entities

In August, October, and November, the US Department of Homeland Security (DHS) added several People’s Republic of China (PRC)-based individuals and entities to its Uyghur Forced Labor Prevention Act (UFLPA) Entity List,  bringing the list’s total to 107 entities. 
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CFIUS Issues Final Rule Expanding the Scope of Its Real Estate Transaction Purview

On November 1, 2024, the US Department of the Treasury, in its capacity as chair of the Committee on Foreign Investment in the United States (CFIUS), issued a final rule (“Final Rule”) expanding the list of military and government sites designated as sensitive.
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China Select Committee Chairman Introduces Legislation to Revoke China’s Permanent Normal Trade Relations

On November 14, 2024, the Chairman of the Select Committee on the Chinese Communist Party (“CCP”), John Moolenaar (R-MI), introduced H.R. 10127, the Restoring Trade Fairness Act (the “Legislation"), which would suspend US permanent normal trade relations (“PTNR”) with the People’s Republic of China (“PRC”), increase the rates of duty applicable to certain articles imported from the PRC, and establish several additional PRC-related actions.
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US Department of the Treasury Issues Final Rule to Regulate Outbound Investments

On October 28, 2024, the US Department of the Treasury (“Treasury”) issued a Final Rule to require the notification or prohibition of certain outbound investments and other transactions by US persons involving persons of countries of concern, and certain subsidiaries or parents thereof, engaged in activities involving three sensitive sectors: (1) semiconductors and microelectronics, (2) quantum information technologies, and (3) certain artificial intelligence (“AI”) systems. The Final Rule’s requirements will go into effect on January 2, 2025.
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Biden Administration Issues First-Ever National Security Memorandum on Artificial Intelligence

On October 24, 2024, President Biden issued the first-ever National Security Memorandum (NSM) on artificial intelligence (AI), fulfilling another directive (subsection 4.8) set forth in the Administration’s Executive Order on AI and outlining how the federal government intends to approach AI national security policy. 
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Department of Justice Issues Notice of Proposed Rulemaking to Regulate Export of Sensitive Personal Data

On October 21, 2024, the Department of Justice (DOJ) released an unpublished Notice of Proposed Rulemaking (NPRM), Provisions Pertaining to Preventing Access to U.S. Sensitive Personal Data and Government-Related Data by Countries of Concern or Covered Persons. DOJ intends to publish the NPRM in the Federal Register on October 29. 
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