The legislative package will end tax breaks for Chinese stocks, restrict sanctioned Chinese companies’ access to U.S. capital markets, increase transparency on risks to American corporations, and reduce exposure to these risks for retail investors and other Americans saving for retirement.
How can U.S. industry, small and large, compete against countries with much weaker currencies, lower labor and environmental regulatory costs, and the overproduction and dumping that come from Asia?
CPA welcomed a petition filed by five national labor unions with the U.S. Trade Representative requesting an investigation into China’s predatory trade actions in the shipbuilding sector.
“Our tax code is supposed to support American manufacturers in building out genuine domestic supply chains. It shouldn’t be exploited by the Chinese Communist Party,” said Brown.
Owl Labs of Massachusetts may look like an American company, but other than the U.S.-based venture capital that funds it, and the intellectual property behind it, their 360-degree video cameras are made in China.
The 118th Congress (2023-2024) is easily the best Congress we’ve had in the 21st century when it comes to tariff policy. U.S. Senators in particular are introducing new tariff bills for different products and industries.
There is growing bipartisan support for taking action, and CPA is proud to join with more than two dozen organizations representing thousands of voices that support closing the de minimis loophole.