The state of Michigan has allegedly pulled the plug on a proposed $2.4 billion factory that would have produced battery parts for electric vehicles. The controversial plant, proposed more than two years ago, involved Gotion, a company that has ties to the Chinese Communist Party. Details inside.
Two U.S. representatives proposed a bipartisan bill that would set a 100% tariff on strategic items from China, including critical minerals and dual-use goods. The bill would also require CFIUS to approve all foreign investments involving land or factory creation from adversarial nations. Details inside.
Last week, three U.S. Senators proposed legislation that would give CFIUS “full authority” to review both greenfield and brownfield investments from China and other countries of concern. The bill follows the release of a Presidential memorandum that called for CFIUS to be granted similar powers.