U.S. looking to investigate Chinese firms over export sanction issues
Category: #healthcare  By Mateen Dalal  Date: 2022-06-03
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U.S. looking to investigate Chinese firms over export sanction issues

According to U.S. Commerce Secretary Gina Raimondo, the Biden administration is actively considering placing more Chinese enterprises on the national budgetary blacklist over concerns that some companies are trying to dodge US sanctions. For those unaware, the Commerce Department's Entity List does not allow access to U.S. exports.

Raimondo mentioned that the Biden administration was striving to improve the situation by obtaining information on China's so-called actors and adding those names to the Entity List as several investigations are currently underway, further demonstrating that the U.S might not remove sanctions anytime soon.

Instead of stopping, China is developing new ways such as forming new businesses to get around sanctions, Raimondo claimed. Thus, the U.S is putting in a vigorous and vigilant effort and is looking to synchronize its restrictions on trade with U.S. export controls whenever possible.

In 2019, the Trump government made rigorous use of the Entity List, adding hundreds of Chinese businesses to the list, including Huawei Technologies Co. Ltd. In 2020, it also included Chinese drone manufacturer DJI and chipmaker SMIC.

The Biden government has widened this approach, placing more than 12 Chinese corporations on the blacklist in the last 8 months over foreign political developments and national security, claiming their help in strengthening China's computing initiatives in some cases.

According to Raimondo, Apple Inc. is considering relocating major production out of China and overheard heard the same thing from a lot of other American manufacturing industries, many of whom are manufacturing in China for decades.

The U.S. Commerce Department listed 33 Chinese firms in its unverified list in the last 4 months, requiring U.S. exporters to verify additional steps before sending goods to the entities. Last year, China's embassy in Washington said the U.S. is misusing state power to limit and prohibit Chinese firms in all possible ways, under the name of national security.

Source Credits:

https://telecom.economictimes.indiatimes.com/news/u-s-investigates-chinese-companies-over-export-sanction-issues/91929659

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Mateen Dalal    

Mateen Dalal

Despite working as a professional testing engineer, Mateen Dalal always held a liking for content creation. Following his passion, he now pens down articles for itresearchbrief.com and a couple of similar portals. Mateen is a qualified electronics and telecommunicat...

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