The report details how China has strategically positioned itself to dominate the U.S. and global solar markets through a combination of government subsidies, overproduction, and exploitation of U.S. policy loopholes—most notably, the tax credits created by the IRA.
We commend the Biden administration for taking initial steps towards closing the de minimis loophole, which China and transnational criminal organizations have weaponized against America.
The report reveals how U.S. financial giants — including BlackRock and Goldman Sachs — have formed joint ventures (JVs) with state banks controlled by the Chinese Communist Party (CCP), giving Beijing unprecedented influence over major U.S. financial firms and Wall Street executives.
“The Biden administration’s refusal to enforce the 2019 steel agreement agreed to, and then breached by, Mexico has led directly to this devastating plant closure,” said CPA CEO Michael Stumo.
By leaving out bills that would prevent Chinese companies from accessing Inflation Reduction Act tax credits, restrict U.S. capital from flowing into China, and close the de minimis loophole, the House is missing a critical opportunity for meaningful action.
The U.S. Private Sector Job Quality Index (JQI) was 83.10 in August compared with 82.99 in July, the fourth straight month of growth after bottoming out in March of this year.
This bipartisan legislation aims to combat international trade crimes by directing the Department of Justice (DOJ) to establish a new trade crime unit within the Criminal Division dedicated to prosecuting international trade crimes.
Congressman Pascrell’s leadership, particularly as a senior member of the Ways and Means Committee, has left a lasting legacy that will continue to shape trade policy for years to come.
There is a strong and growing bipartisan consensus that the de minimis loophole has created rampant lawlessness and is facilitating the import of high-risk, illegal, and dangerous products—including deadly fentanyl poison that is killing tens of thousands of Americans each year.
In January, CPA called on the Biden administration to reject misguided calls to revoke the non-market economy status of the Socialist Republic of Vietnam — a nation where the economy remains highly controlled by the government.
