US Congress Moves to Target Chinese Biotech and EV Firms

The U.S. House of Representatives is preparing to vote on a series of bills targeting China, particularly focusing on national security concerns related to Chinese biotech firms and electric vehicle supply chains. This legislative effort, referred to as 'China Week,' follows Congress's summer recess and includes 31 out of 36 pending bills that are expected to be fast-tracked for approval. A significant piece of legislation, the BIOSECURE Act, aims to prohibit federal contracts with five Chinese biotech companies, including WuXi AppTec, reflecting bipartisan support for increased scrutiny of Chinese firms. In addition to the BIOSECURE Act, lawmakers are also considering measures to limit business interactions with Chinese supply chains in the electric vehicle sector and to restrict the use of DJI drones within American communications infrastructure. These actions come in the wake of deteriorating U.S.-China relations, with the Chinese Embassy in Washington criticizing the proposed bills as interference in China's internal affairs. The push for these bills follows President Biden's earlier decision to ban the TikTok app unless its Chinese parent company divests within a year, indicating a broader trend of tightening regulations on Chinese technology and business practices. Despite these tensions, Western pharmaceutical companies continue to engage in significant licensing agreements with Chinese drugmakers, highlighting a complex economic relationship. The current U.S. policy towards China has faced criticism for being overly aggressive, with some experts labeling it as 'Sinophobic.' This ongoing legislative activity underscores the growing concerns over national security and economic competition between the two nations, as the U.S. seeks to limit China's access to advanced technologies.