Arlington, VA-The American Consumer Institute (ACI) has signed onto a coalition letter calling on the U.S. Treasury Department to strengthen its forthcoming Foreign Entity of Concern (FEOC) guidance to prevent companies from evading restrictions through U.S. subsidiaries, contractual arrangements, or other corporate structures.
The letter raises concerns about Chinese-controlled companies establishing nominally American operations that could position themselves to benefit from U.S. manufacturing and energy tax incentives. It specifically highlights SEMCORP and Green New Energy Materials, building on existing congressional scrutiny of CATL and Gotion.
By joining this coalition, ACI is adding its voice to a growing call for Treasury to ensure that FEOC guidance delivers on its intended purpose: keeping U.S. manufacturing and energy tax incentives from flowing to companies under Chinese control, regardless of how they structure their U.S. presence.
Read the coalition letter here.
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The American Consumer Institute is a nonprofit education and research organization.