Initiation of Second Four-Year Review Process: China's Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation

USTR noticeStatementFederal Register 05/06Open the original

Summary

The U.S. Trade Representative begins the second four-year review of the Section 301 actions on China's acts, policies, and practices related to technology transfer, intellectual property, and innovation. Domestic-industry representatives may request continuation during the windows of May 7, 2026 to July 5, 2026 and June 24, 2026 to August 22, 2026.

By industry

Tariffs & Reshoring1 trading day+0.2%p15 stocks5 trading days−3.2%p15 stocks20 trading days+7.8%p15 stocks
“commencing the second, statutory four-year review of the two actions taken under Section 301 of the Trade Act of 1974”

Day by day after the announcement

Tariffs & Reshoring stocks and the S&P 500 after the announcement, cumulative %
Day	Tariffs & Reshoring stocks	S&P 500
26/05/05	0.0%	0.0%
26/05/06	+1.1%	+0.9%
26/05/07	−0.8%	+0.6%
26/05/08	−1.2%	+1.6%
26/05/11	−0.7%	+1.8%
26/05/12	−1.7%	+1.5%
26/05/13	+0.1%	+2.3%
26/05/14	−0.2%	+3.0%
26/05/15	−4.3%	+1.5%
26/05/18	−4.7%	+1.8%
26/05/19	−5.5%	+1.0%
26/05/20	−3.1%	+1.6%
26/05/21	−1.2%	+2.3%
26/05/22	+1.6%	+2.5%
26/05/26	+5.4%	+3.3%
26/05/27	+7.3%	+3.3%
26/05/28	+8.3%	+4.0%
26/05/29	+8.3%	+4.1%
26/06/01	+8.9%	+4.1%
26/06/02	+12.6%	+4.5%
26/06/03	+11.1%	+3.3%

Korean stocks in these industries

Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Keith HarveyPresident & CEO
SellKaiser Aluminum
Sell
Kaiser Aluminum
KALU
$8.2M
47,001 sh
$8.2M
Filed 04/29
Traded 04/27
Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$5M
21,954 sh
$5M
Filed 05/19
Traded 05/15
Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$3.7M
16,239 sh
$3.7M
Filed 05/19
Traded 05/15
Celso L. Goncalves Jr.EVP, CFO
SellCleveland-Cliffs
Sell
Cleveland-Cliffs
CLF
$2.9M
214,308 sh
$2.9M
Filed 06/05
Traded 06/05
Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$2.1M
9,366 sh
$2.1M
Filed 05/19
Traded 05/15
Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$1M
4,441 sh
$1M
Filed 05/19
Traded 05/15
Neal E. WestEVP & CFO
SellKaiser Aluminum
Sell
Kaiser Aluminum
KALU
$866.5K
5,000 sh
$866.5K
Filed 04/29
Traded 04/28
David A. SumoskiEVP
SellNucor
Sell
Nucor
NUE
$7.4M
32,824 sh
$7.4M
Filed 05/04
Traded 04/30
Arthur AjemyanSVP, CFO
SellReliance
Sell
Reliance
RS
$651.6K
1,822 sh
$651.6K
Filed 04/28
Traded 04/27
Arthur AjemyanSVP, CFO
SellReliance
Sell
Reliance
RS
$575.3K
1,604 sh
$575.3K
Filed 04/28
Traded 04/27
Keith HarveyPresident & CEO
SellKaiser Aluminum
Sell
Kaiser Aluminum
KALU
$524.8K
3,031 sh
$524.8K
Filed 05/01
Traded 04/29
Kimberly A. FieldsChair, President and CEO
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$4.6M
25,823 sh
$4.6M
Filed 06/04
Traded 06/02
Brett WilcoxDirector
SellKaiser Aluminum
Sell
Kaiser Aluminum
KALU
$2.6M
15,000 sh
$2.6M
Filed 04/29
Traded 04/27
Kimberly A. FieldsChair, President and CEO
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$2.5M
13,865 sh
$2.5M
Filed 06/04
Traded 06/02
Kimberly A. FieldsChair, President and CEO
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$2.4M
13,164 sh
$2.4M
Filed 06/04
Traded 06/02
Kenneth Rex QueryEVP
SellNucor
Sell
Nucor
NUE
$2.1M
8,380 sh
$2.1M
Filed 06/03
Traded 06/01
Kimberly A. FieldsPresident, CEO and Director
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$1.9M
11,982 sh
$1.9M
Filed 05/12
Traded 05/11
Allen C. BehrEVP
SellNucor
Sell
Nucor
NUE
$1.9M
8,438 sh
$1.9M
Filed 05/06
Traded 05/04
Daniel R. NeedhamEVP
SellNucor
Sell
Nucor
NUE
$1.7M
7,739 sh
$1.7M
Filed 05/05
Traded 05/01
Marshall D. AkinsVP and Chief Comm Officer
SellCarpenter Technology
Sell
Carpenter Technology
CRS
$1.5M
3,434 sh
$1.5M
Filed 05/06
Traded 05/05