[ad_1]
Jakarta, CNBC Indonesia – The president of the United States (USA) Donald Trump may lose the presidential election (Pilpres) of November 3 to Joe Biden. But that didn’t stop him from tackling China.
This week, four rules were established to “punish” Xi Jinping’s country. Not only sanctions to individuals, but also trade to Chinese assets and companies.
On Wednesday (02/12/2020), Trump restricted travel visas for members of the Chinese Communist Party. He later banned the importation of cotton from Chinese companies, which he accused of using forced labor for the Uighur Muslim ethnic minority in Xinjiang.
On Thursday (03/12/2020), the law that could kick Chinese issuers off Wall Street, due to ownership transparency issues, was also passed by DPR and the Senate. The rules are now on Trump’s table to be signed immediately to become official.
The law is called the “Foreign Companies Liability Law”. Citing the US House of Representatives, 217 Chinese companies were listed on the Wall Street Stock Exchange in early October, for a total of $ 2.2 trillion based on share price.
Not only that, Trump also officially included chipmakers China Semiconductor Manufacturing International Corp. (SMIC) and China National Offshore Oil Corp (CNOOC). Together with two other companies, China Construction Technology Co Ltd and China International Engineering Consulting Corp, this company is considered an “accomplice” of the Chinese military.
Citing Reuters, this brings the total number of US blacklisted companies to 35.
Trump’s move is likely to put pressure on the already shaky relationship between the two countries. Previously, it was not just a trade war, the United States-China at the time of this former businessman also competed geopolitically, even accusing each other of the origin of the crown.
“Trump’s actions will defeat Biden,” Shi Yinhong, director of the Center for United States Studies at Renmin University of China, was quoted as saying by Bloomberg.
“This is a steady escalation. The starting points for the negotiations are increasing. It is impossible for the American side to go back in time before the (Trump-era) secession.”
Meanwhile, the US embassy said that the Communist Party of China was actively working to spread propaganda, impose economic impulses and a host of other “evil” activities.
“For decades we have allowed the Chinese Communist Party to have free and unrestricted access to US institutions and companies, while this same privilege has never been freely granted to US citizens in China,” the statement stressed.
Foreign Ministry spokesman Hua Chunying said he was not aware of some of the sanctions. But he asked the United States to be rational and not prioritize hatred when acting against the country.
“Their (American) goal is to limit, oppress Chinese parties and companies and slow down China’s development,” AFP said.
(Head to head)
