The trade war could be just the beginning.
By Erin Banco
As the Trump administration continues to ramp up tariffs as part of
its effort to inflict economic levies on China, behind the scenes it is
quietly taking steps to deal another blow to the country.
The
Department of Treasury and Commerce are knee-deep in crafting new
regulations that will implement restrictions against China meant to
limit its ability to access U.S. technology, data, and infrastructure,
current and former officials told The Daily Beast. The regulations will
also propel a plan that gives the government the jurisdiction to review
Chinese investment into American companies that deal with or manufacture
that technology.
The restrictions were included in two pieces of legislation under the 2019 National Defense Authorization Act, a series of laws that outlines the budget and expenditures for the Department of Defense, which President Trump signed in August. The government has 18 months to fully implement the new legislation and the new regulations will move that process forward.
“This
is going to be very contentious and no one really knows how it is all
going to shake out,” said one senior official in the department of
Commerce. “We will have to wait and see what these regulations say. The
new legislation will mostly likely impact many more countries but it was
really crafted in order to target China.”
Click here for the full article.
Source: The Daily Beast
No comments:
Post a Comment