Jake Sullivan was right. More restrictions against Chinese companies were coming. On July 9, Gina Raimondo’s Commerce Department barred American businesses from working with 22 Chinese tech and military-connected firms. Next up: banning Wall Street from investing in these companies in China.
The Federal Trade Commission said on July 1 that was now going to fine foreign companies that list on Amazon, elsewhere, as domestic manufactured products.
Despite a decline in imports from China, the U.S. trade deficit in May is up again thanks in large part to commodities imports like oil and Canadian timber. At this pace, a $1 trillion goods deficit is guaranteed for 2021.
Chinese “Uber for trucking” company, Full Truck Alliance (FTA), raised $1.6 billion in an initial public offering in the United States with help from Wall Street banks. While the initial haul is impressive, it is a mere fraction of the $20 billion FTA hopes to raise in the near future. To gain some appreciation for…
On June 8, the U.S. Senate passed the U.S. Innovation and Competition Act of 2021, a bill aimed at countering China on a plethora of fronts, though some of its provisions leave the door open for unstrategic tariff removal. Passing with a 68-vote majority, the bill is now with the House of Representatives where it…
The post-pandemic recovery is becoming a China jobs program. Ports swamped with e-commerce shipments as China expands digital presence here.
Senators from the Foreign Relations Committee grilled two new Treasury nominees about sanctions. Capital market sanctions were mentioned only once. Will the new Treasury hires placate Wall Street, or follow Biden’s EO calling for divestment in 59 Chinese securities.
Canada wants to be top of mind for Buy America contracts. Thanks to the WTO, they already are. The White House needs to make Buy America policy a way to build domestic supply chains. “Work with allies” doesn’t mean “work for allies.”
Looks like the solar importers were wrong about a demand drop due to tariffs. We didn’t think they would be. There is room for both, but domestic supply chains should be revved up to support public power stations.
Should members of China’s CCP be allowed to own large swaths of American land, and commercial real estate? Rep. Chip Roy of Texas is proposing outright bans.