Asia

The bill would amend the 2015 Trade Promotion Authority law, which expires later this year.

The European Union’s agriculture sustainability strategy, known as “Farm to Fork,” is “straight up protectionism,” the former top agricultural negotiator at the Office of the U.S. Trade Representative said this week, arguing that the bloc was claiming its blocking of new agricultural technology would make European agriculture more sustainable.

Sen. John Cornyn (R-TX) said President Biden and Vice President Kamala Harris in a White House meeting on Wednesday offered their full support for moving forward with funding incentives for semiconductor manufacturing in the U.S.

The U.S. will aim to “protect America’s tax revenues” in negotiations at the Organization for Economic Cooperation and Development, President Biden’s pick for deputy Treasury secretary said on Tuesday, potentially complicating talks with other countries that want U.S.-based companies to pay taxes in other jurisdictions.

Senate Majority Leader Chuck Schumer (D-NY) has told Democratic committee leaders to begin drafting a legislative package designed to fortify the U.S. semiconductor industry and other high-tech sectors facing steep competition with China, with the goal of bringing a bill to the Senate floor this spring, he said on Tuesday.

“We need to beat this evil empire and resign Chinese communists, just like the Bolsheviks, to the ‘ash heap of history.’”

The Commerce Department has released an analysis of the costs businesses could face in trying to comply with a controversial supply chain interim final rule for the information and communications technology sector, providing wide-ranging estimates depending on different business considerations.

“The absence of U.S. incentives has made our country uncompetitive and America’s share of global semiconductor manufacturing has steadily declined as a result.”

The U.S. and China are barreling toward a complete decoupling of their economies that could be devastating to American competitiveness unless the U.S. changes course and moves away from broad restrictions that go beyond national security concerns, according to new study commissioned by the U.S. Chamber of Commerce.