Fund managers with a global focus face various complicated issues, including evolving tax regulations in the U.S., along with the complex trade and sanctions landscape. Furthermore, the U.S.-China relationship has implications for the PE landscape. Therefore, it is important for sponsors to monitor global developments and consider how they could trickle down to their investors, funds or portfolio companies. A panel at the recent Morgan Lewis Private Fund Investors Roundtable that was hosted by partner Jedd Wider addressed those and other topics relevant to PE sponsors. This second article in a two-part series presents the thoughts of various Morgan Lewis partners on recent tax developments; investment issues involving China; and the evolving trade and sanctions landscape. The first article shared the panelists’ insights on the key takeaways from the panelists on trends in PE terms, the latest investor allocation preferences, how single investor funds are structured and the evolution of hybrid funds. See “Key Investor, Regulatory and Industry Trends Identified in Dechert and Mergermarket’s 2022 Global PE Outlook” (Dec. 7, 2021); and “IFI Global Survey Identifies Trends in Offshore Domiciliation and Fund Structuring Among U.S. Managers” (Nov. 2, 2021).