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Last Friday, the Biden administration proposed new rules that offer guidance on how tax credits for the sale of electric vehicles will apply when the batteries and the materials that power them are made in China and other "foreign entities of concern."
After the Biden administration issued an Executive Order and proposed rulemaking last week for restrictions on U.S. investment in China, several experts offered commentary on various aspects of the measures, including possible Congressional action, coordination with allies, and China's response.
Yesterday, the Biden administration announced the first steps towards executive branch action on restricting new U.S. investment in China in several sectors with a close connection to the development of military technology. Additional Congressional action in this area may follow soon.
The U.S. Commerce Department's Bureau of Industry and Security sanctioned 31 Chinese entities, as well as some entities in a number of third countries on the basis of their ties to the Chinese military, putting these companies under tighter export control rules.
The U.S. government recently sanctioned more Chinese firms for their transactions with Iran and Russia. The Chinese government called the U.S. decisions "typical unilateral sanctions and 'long-arm jurisdiction'."
The U.S. Department of Commerce added five more Chinese tech companies to its Entity List on the basis of human rights violations. These companies are related to Hikvision, a Chinese maker of surveillance equipment. Hikvision claimed back in 2019 that it had low reliance on U.S. products for