Analysis: More Chinese firms could fall under Biden’s broader investment ban

  • 📰 Reuters
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

President Joe Biden's order last week banning U.S. investment in certain Chinese companies is broader than a similar one signed by his predecessor Donald Trump and has a lower bar, making it easier to add more companies later.

U.S. and Chinese flags are seen in front of a U.S. dollar banknote featuring American founding father Benjamin Franklin and a China's yuan banknote featuring late Chinese chairman Mao Zedong in this illustration picture taken May 20, 2019. REUTERS/Jason Lee/Illustration

"It's broader in scope and it's a much lower standard for listing," said Washington lawyer Kevin Wolf, a former Commerce Department official, adding it should better withstand legal scrutiny. The revised order eliminates the requirement for a direct link to the Chinese state, using the more vague language that a company must "operate in" the defense or surveillance sectors.

The judge halted Xiaomi's designation in March citing a lack of evidence it was affiliated with the PLA or PRC, and calling its listing "arbitrary and capricious."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Chinese Billionaire buys 200 square miles in Texas, (130,000) acres near Ft. Hood, says putting in a wind farm, and needs huge airbase for Cargo Aircraft... Don't take my word for it, Google it!!

and PuertoRico still is waiting for all 🇺🇸 pharmaceuticals that are in China and were to be relocate it. No one should forget 🇵🇷 IS USA🇺🇸

We really think all this is hogwash. The Chinese are actually gaining more and more strength by the day in the WH.

Hey guys I made a video for youtube, can you let me know what you think

And the free market? What happened with that?

Sen_JoeManchin is upholding white supremacy and racism. KrystenSinema is a republican and supports white supremacy and racism. HarrisonJaime the Democrats must stop funding Manchin & Sinema projects or America will stop donations to democrats.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla, Liminal BioSciences, BlackBerry, Stitch Fix: What to Watch When the Stock Market Opens TodaySeveral “meme stocks” popular with retailer traders nudged higher premarket, including AMC, GameStop and BlackBerry You put Tesla in a list of meme stocks that people bought for fun? Is Apple a meme stock too? We know that you're getting paid by Ford,GM etc in order to trash them, but that's just ridiculous even for your corruption .Tell your donors to try to compete instead. It's pronounced 'stonks'
Source: WSJ - 🏆 98. / 63 Read more »