US President Donald Trump's top trade adviser sought to tamp down market panic over the White House's plans for investment restrictions against China by calling investors' interpretations "a misunderstanding".
While China's technological advance has, so far, been rapid, we shouldn't expect "one big moment where Chinese companies gain the ultimate competitive advantage", Zenglein predicts. Statement will be out not specific to China, but to all countries that are trying to steal our technology.
Treasury Secretary Steven Mnuchin said the investment restrictions, reported by the Wall Street Journal, were "false, fake news", but said that the measures would apply to "all countries" instead of just China. Does that remove the risk for maneuver and compromise in the U.S.? Technology stocks and automakers were mostly in negative territory, with blue chips Toyota and SoftBank Group down 0.27 percent and 2.93 percent, respectively. Mattis laid out plans for a less contentious, more open dialogue with Chinese leaders as he travels to Asia, less than a month after he slammed Beijing at an worldwide conference for its militarization of islands in the South China Sea. Tariffs on an additional $16 billion in Chinese products will go into effect after a public review period is completed.
Trump threatened to impose a 20 percent tariff on Friday on all imports of EU-assembled cars, a month after his administration launched an investigation into whether auto imports posed a national security threat.
U.S. Treasury Secretary Mnuchin has been reluctant to back steep tariffs on Chinese goods, fearing the impact on global supply chains.
Four of Taiwan's former allies - Sao Tome and Principe, Panama, the Dominican Republic and Burkina Faso - have switched recognition from Taipei to Beijing since President Tsai Ing-wen (蔡英文) took office in May 2016.
The vice president of the European Union's governing body says Europe and China will form a group aimed at updating global trade rules to address technology policy, subsidies and other emerging complaints in a bid to preserve support for worldwide commerce.
Intel, which derived nearly a quarter of its sales from China past year, was one of the biggest losers on the stock market with its share price falling by more than 3%.
China and the European Union will exchange offers related to market access at an upcoming summit in July, Liu said Monday. "The rhetoric is getting stronger rather than weaker".
"We are ready to continue discussions on the purchase of Airbus planes in a timely manner", Li said. "It's bad for growth", he said.
Mattis during his visit to China from June 26 to 28 will meet several senior officials to exchange strategic perspectives and discuss areas of mutual concern, the Pentagon said yesterday.
The administration could expand existing authorities for the Committee on Foreign Investment in the United States, or CFIUS, which is led by the Treasury and which already has blocked some Chinese investments in ports and semiconductors. It said the controls would be announced by June 30 and would "be implemented shortly thereafter".
Export controls, on the other hand, are the purview of the U.S. Commerce Department and the National Security Council.