On July 8, 2025, President Trump issued an order (the “Order”) requiring a Chinese company, Suirui Group Co., Ltd., and its Hong Kong subsidiary, Suirui International Co., Limited (collectively, “Suirui”), to divest its interest and rights in Jupiter Systems, LLC (“Jupiter”), a California-based company specializing in video processing technology.Continue Reading President Trump Issues Order Requiring Chinese Company to Divest Interest in U.S. Video Processing Technology Company
U.S. and UK, China Agree to Trade Deals Limiting Reciprocal Tariffs
For more insights and analysis from Cleary lawyers on policy and regulatory developments from a legal perspective, visit What to Expect From a Second Trump Administration.
President Trump has announced two new trade deals negotiated by the United States: the U.S.-UK Economic Prosperity Deal (“EPD”), announced on May 8, and an executive order, Modifying Reciprocal Tariff Rates to Reflect Discussions with the People’s Republic of China, issued on May 12 (the “PRC Reciprocal Tariff EO”). Continue Reading U.S. and UK, China Agree to Trade Deals Limiting Reciprocal Tariffs
President Trump Issues “America First Investment Policy”: Confirms U.S. Openness to Foreign Investment from Allies and Partners, Calls for Enhanced Restrictions on Investments from and into China
For more insights and analysis from Cleary lawyers on policy and regulatory developments from a legal perspective, visit What to Expect From a Second Trump Administration.
On February 21, 2025, President Trump issued a memorandum to various U.S. government agencies setting forth an “America First Investment Policy” (the “Memorandum”). While the Memorandum is a call to arms for the Committee on Foreign Investment in the United States (“CFIUS”) to further restrict Chinese investments into the United States and for the U.S. government to use the recently implemented U.S. Outbound Investment Security Program (“OISP”) to restrict additional U.S. outbound investment into China (described in our alert memorandum linked here), the Memorandum also aims to facilitate inbound investment from allies and partners. Continue Reading President Trump Issues “America First Investment Policy”: Confirms U.S. Openness to Foreign Investment from Allies and Partners, Calls for Enhanced Restrictions on Investments from and into China
MOFCOM Issues Final Determination on Trade and Investment Barrier Investigation into the EU’s Foreign Subsidies Regulation
On January 9, 2025, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) released its decision in a trade and investment barrier investigation into the European Union’s Foreign Subsidies Regulation (“FSR”).Continue Reading MOFCOM Issues Final Determination on Trade and Investment Barrier Investigation into the EU’s Foreign Subsidies Regulation
DOJ Issues Final Rule Targeting Bulk Sensitive Personal and U.S. Government-Related Data Transactions Involving Countries of Concern
On December 27, 2024, the U.S. Department of Justice, National Security Division (“DOJ”) issued a final rule implementing a new regulatory program designed to prevent certain countries (China, Cuba, Iran, North Korea, Russia, and Venezuela) and covered persons from having access to Americans’ bulk sensitive personal data and U.S. government-related data (“Final Rule”).[1] The Final Rule, which implements Executive Order (“E.O.”) 14117 issued on February 28, 2024, builds on an Advanced Notice of Proposed Rulemaking published March 5, 2024, which we previously discussed here, and a Notice of Proposed Rulemaking published on October 29, 2024.[2] The Final Rule will enter into effect on April 8, 2025. However, certain due diligence, audit, and reporting requirements will not require compliance until October 6, 2025. Continue Reading DOJ Issues Final Rule Targeting Bulk Sensitive Personal and U.S. Government-Related Data Transactions Involving Countries of Concern
Commerce Takes Next Step in Furtherance of Import Prohibition on Connected Vehicles and Systems from China and Russia
On September 26, 2024, a Notice of Proposed Rulemaking (NPRM) was published in the Federal Register to establish regulations that would generally prohibit the sale or import into the United States of certain “connected vehicles” integrating specific pieces of hardware and software, or those components sold separately, with a sufficient nexus to the People’s Republic of China (PRC) or Russia (the Proposed Rule).[1] The Proposed Rule, which was issued by the U.S. Department of Commerce, Bureau of Industry and Security (BIS), follows an earlier Advanced Notice of Proposed Rulemaking (ANPRM) published on March 1, 2024 and addresses comments received in response to the ANPRM.[2]Continue Reading Commerce Takes Next Step in Furtherance of Import Prohibition on Connected Vehicles and Systems from China and Russia
The European Commission targets Chinese battery electric vehicles with provisional duties to counteract subsidies
On July 4, 2024, the European Commission imposed provisional countervailing duties on imports of battery electric vehicles (BEVs) from China.Continue Reading The European Commission targets Chinese battery electric vehicles with provisional duties to counteract subsidies
President Biden Issues Order Requiring Chinese Owner to Divest Cryptocurrency Mining Facility Near U.S. Military Base
On May 13, 2024, President Biden issued an order (the “Order”) requiring MineOne Partners Limited, a company majority owned by Chinese nationals, and certain affiliates (together, “MineOne”) to divest previously acquired real estate (the “Real Estate”) in Wyoming located near Francis E. Warren Air Force Base (“Warren AFB”). The Order gives MineOne 120 days to divest the Real Estate and includes strict monitoring measures to allow the U.S. government to supervise the sale of the Real Estate to an approved buyer.Continue Reading President Biden Issues Order Requiring Chinese Owner to Divest Cryptocurrency Mining Facility Near U.S. Military Base
U.S. Circuit Court Finds that Florida Law Prohibiting Foreign Ownership of U.S. Land Likely Preempted by CFIUS Statute
On February 1, the United States Court of Appeals for the Eleventh Circuit unanimously granted a preliminary injunction in Shen v. Simpson, enjoining enforcement of a Florida law regulating foreign ownership of U.S. land. That law prohibits citizens of the People’s Republic of China who are not lawful permanent residents of the United States from purchasing certain real property in Florida. The Eleventh Circuit’s ruling enjoined enforcement of the law against two individual plaintiffs, and the court held that those plaintiffs had shown a “substantial likelihood of success” on their claim that the Florida law was preempted by the Foreign Risk Review Modernization Act of 2018 (“FIRRMA”), the most recent federal statute expanding the authority of the Committee on Foreign Investment in the United States (“CFIUS”), including with respect to certain real estate transactions. In concurrence with the majority, Judge Abudu wrote that the plaintiffs also showed a substantial likelihood of success on their argument that Florida’s law violates the Equal Protection Clause of the Fourteenth Amendment to the U.S. Constitution.Continue Reading U.S. Circuit Court Finds that Florida Law Prohibiting Foreign Ownership of U.S. Land Likely Preempted by CFIUS Statute
Economic Sanctions: Developments and Lessons for Boards in 2024
The following post was originally included as part of our recently published memorandum “Selected Issues for Boards of Directors in 2024”.
Continued volatility in geopolitical events this past year and corresponding responses in sanctions policies highlight the importance of integrating economic sanctions considerations in board agendas for 2024. In particular, boards of directors should be aware of the increasing global collaboration among sanctions authorities as well as the continuing expansion and application of sanctions in new domains such as digital assets. Sanctions developments can be expected to be particularly fluid in 2024 with respect to China, Russia and Venezuela.Continue Reading Economic Sanctions: Developments and Lessons for Boards in 2024