Senate Dems To Outline China Competition Legislation

Wires reporting that according to congressional aides, Senate Democrats are set to begin work on 'new legislation to strengthen export control laws, and identify new sanctions to counter China'. The legislation is also set to include measures to be enacted in the event of Chinese aggression towards Taiwan. Bloomberg reports that majority leader Chuck Schumer (D-NY) will officially announce the plans at a midday presser (1700BST, 1800CET).

• Bloomberg: "The package will have five focus areas. The first is to limit China’s access to cutting-edge technology,[...] The second is to restrict investment flows to China. [...] The third area is focused on new domestic investments in key technologies. Fourthly, the US would create an alternative foreign aid program to counter China’s “Belt and Road” Initiative in Asia. Finally the package would aim to “deter China from initiating a conflict with Taiwan or other allies in the region.”
• On 16 May, the powerful Senate Appropriations Committee will hold a hearing on US-China competition. Secretary of State Anthony Blinken, Secretary of Defense Lloyd Austin, and Secretary of Commerce Gina Raimondo all set to give evidence in a high-profile gathering of officials.