The U.S. Department of Commerce’s New Proposed Rule Governing Restrictions on Chinese Investments

On March 21, 2023, the U.S. Department of Commerce released a Notice of Proposed Rulemaking (NPRM) imposing guardrails preventing the “improper use of funds” made available under the CHIPS Act of 2022. In “Commerce Releases New Proposed Rule Governing Restrictions on Chinese Investments by CHIPS Act Applicants,” members of our International Trade team break down the proposed rule, which tightens restrictions on activities by “affiliates” and clarifies scope of statutory clawbacks.