Stock Groups

U.S. senator drops opposition to vote on Biden choice for top China post -Breaking

[ad_1]

© Reuters. FILE PHOTO: Senator Tom Cotton (Republican from Arkansas) questions U.S. attorney general Merrick Garland at a Senate Judiciary Committee Hearing examining the Department of Justice in Washington, DC on October 27, 2021. Tasos Katopodis/Pool via REUTERS/Fil

Alexandra Alper and Karen Freifeld

WASHINGTON, (Reuters) – Republican Senator Tom Cotton released his hold on the nomination of President Joe Biden for a crucial post in the U.S. China tech war. The official had stated that he would aggressively police technology exports to Beijing and he was a Cotton aide, as per Reuters.

This decision eliminates the need for a final confirmation vote to confirm Alan Estevez’s nomination to the U.S. Commerce Department’s Bureau of Industry and Security. However, it remains to be seen if Democratic Senator Bob Menendez who opposed Estevez in a vote of the committee, will permit the process to proceed quickly.

Estevez was a Pentagon veteran and was elected in July to the BIS post. BIS is the U.S. trade agency. The position has become a focal point of the U.S. – China tech war.   

    But Cotton last month placed a “hold” on a final Senate confirmation vote, demanding answers to written questions aimed at assessing whether Estevez would tow a hard line on China. A Cotton aide confirmed to Reuters Monday that the Arkansas senator had released his hold upon receiving a note from the nominee.

Estevez replied in writing on Oct. 29, and was seen by Reuters. Estevez stated that he will do all he could to speed up the implementation of advanced technology rules and, if necessary, increase U.S. sanctions on semiconductor software and technology sales.

    He also promised to consider extending a rule that restricts the overseas sale of semiconductor chips to Huawei Technologies, the Chinese telecommunications equipment maker blacklisted by the United States, to other blacklisted Chinese firms with links to the military or human rights violations.

Estevez replied to Cotton, Republican Senator Bill Hagerty and other cosigners to the Estevez letter last month. Estevez stated that he would not hesitate to use aggressively the BIS tools to restrict the exports of technology which could harm our national security.

Estevez stated that the Biden government must prevent China reaching its goal to match or exceed U.S. military might.

A fast-track confirmation process can be held up by any senator that does not require consent from all 100 senators.

    Menendez came out against Estevez when the Senate Banking Committee took up his confirmation and later also opposed expediting a final full vote in the Senate.

    The New Jersey Democrat’s opposition stems from Estevez’s response to questions regarding returning oversight of U.S. fire arms exports to the State Department. Menendez spoke Tuesday to Reuters, stating that the problem was still not solved.

A request for comment was not received by the Commerce Department immediately.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]