The multilateral trading system, birthed on October 30, 1947, was unceremoniously knifed and left for dead by President Biden’s signing of the Inflation Reduction Act.
CPA sent the following letter to U.S. Customs and Border Protection and the U.S. Department of Homeland Security requesting that several additional Chinese companies engaged
CPA tax policy director, David Morse, explains why mostly-domestic companies with over a billion in profits might get a more even playing field with rivals who use profit shifting, offshoring, to pay less taxes.
CPA chief economist Jeff Ferry says the CHIPS Act is needed to counter China’s rise in the semiconductor space, and that the R&D component of the bill needs to include guardrails so American academia isn’t beta-testing and researching new chips in partnership with Chinese universities and companies.
Commerce Department official tells House Foreign Affairs of the urgent need for the CHIPS Act, and says department is looking into more export controls on China.