Limited impact seen from Trump investment ban on military-linked Chinese firms | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 86%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

WASHINGTON, Nov 18 ― President Donald Trump's directive barring US investments in Chinese companies linked by Washington to China's military is unlikely to deal the firms a serious blow, experts said, due to its limited scope, uncertainty about the stance of the incoming Biden administration and...

Wednesday, 18 Nov 2020 08:34 AM MYT

The executive order, first reported by Reuters, was signed by Trump on Thursday as he sought to curb access by American investors to 31 Chinese firms labeled by the Pentagon as “owned or controlled” by China's military. It officially goes into effect on January 11. But the directive does not ban new purchases of the securities until November 2021 and allows US investors to continue to own or sell shares they already hold in the targeted companies, raising further questions about its impact.

“Some investors may hold their breath to see whether President-elect Biden will reverse or modify the course of these and other Trump-era China restrictions,” Tuchband added. The directive was part of Trump's efforts to ramp up pressure on China by limiting its access to Wall Street, as relations between Washington and Beijing have soured over issues including the coronavirus pandemic and a Chinese crackdown on Hong Kong. The order was aimed at giving teeth to the Pentagon designations that were mandated by law two decades ago but not disclosed until this past summer.

 

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

 /  🏆 1. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines