• By The Financial District

China Lobbies U.S. Business To Oppose Anti-Beijing Bills

China has been pushing US executives, companies, and business groups in recent weeks to fight against China-related bills in the US Congress, four sources familiar with the initiative told Reuters, in letters to and meetings with a wide range of actors in the business community, Michael Martina reported for Reuters.

Photo Insert: The trade war between the world's two most powerful economies continues.

Letters from China's embassy in Washington have pressed executives to urge members of Congress to alter or drop specific bills that seek to enhance US competitiveness, according to the sources and the text of a letter sent by the embassy's economic and commercial office seen by Reuters.

Chinese officials warned companies they would risk losing market share or revenue in China if the legislation becomes law, according to the text of the letter.

The sources said China's request also left some individuals who received a letter concerned that they could be seen as violating the Foreign Agents Registration Act (FARA) if they lobbied lawmakers on similar issues in the future.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

As a result, none of the sources wanted to be identified as having received or seen the letter.

Sweeping legislation to boost US competition with China and fund much-needed semiconductor production, known as the US Innovation and Competition Act (USICA), passed the Senate with bipartisan support in June.

Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

A related bill in the House of Representatives called the Eagle Act, which is more strictly policy-focused, has stalled as Congress has been preoccupied with other domestic initiatives.

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