Monday, October 8, 2018

Team Trump Preps an Uppercut to the Chinese Economy


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 

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