In today’s United States government, the trump administration made success in the conclusion of negotiations happened last September 30. This is the United States–Mexico–Canada Agreement (USMCA). The agreement was hastened its notifications to Congress on October 16 because of its intention to enter into new trade talks together with the European Union, Japan, and United Kingdom.
Because of these agreements and happenings – there are four actions that were already set in motion. 60 days till USMCA will be signed and this also happened 90 days before there are new proposed negotiations that will take place. Whilst reviewing the terms included in the USMCA agreement, NEMA is now on the verge of consulting with its members their objectives for the EU, UK, and Japan talks. All of these are happening while there are navigating tariffs that helps in the importation of steel, Chinese-made products, equipment, & components as well as aluminum.
In line with this, there economic espionage happening. Last November 1, the then-Attorney General Jeff Sessions and Federal Bureau of Investigation Director Christopher Wray made an announcement that there has been new broad initiatives taking place to contradict the impact of the criminal economic activity started by China.
“The Chinese government is determined to acquire American technology, and they’re willing [to] use a variety of means to do that—from foreign investments, corporate acquisitions, and cyber intrusions to obtaining the services of current or former company employees to get inside information,” said the then FBI director.
“If China acquires an American company’s most important technology—the very technology that makes it the leader in a field—that company will suffer severe losses, and our national security could even be impacted. We are committed to continuing to work closely with our federal, state, local, and private sector partners to counter this threat from China,” Wray concluded.
In line with this, the senior of the Justice Department official told NEMA the main tool for the interagency integration initiative is no other than prosecution brought about by certain individuals and companies in case there is a trade-secret theft. One of the efforts given for the expansion of the prosecutions were under the Foreign Corrupt Practices Act and the Foreign Agents Registration Act. As well as there is an existing implementation happening together with the Treasury Department. The said department is now under the new Foreign Investment Risk Review Modernization Act. This helps the government to expand and increase its authority on the Committee on Foreign Investment in the U.S.