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China has been pretty quiet about the attacks by the Donald Trump administration at the end of his term at a time when things are about to end.
Stress escalation
According to Reuters, President Donald Trump’s administration is preparing to ban two more Chinese giants on the threshold of the possibility that Trump should hand over the White House to Joe Biden.
Consequently, Trump will add China’s top chipmaker, SMIC, and offshore oil producer CNOOC, to the blacklist.
According to the decree signed by Trump on 11/12 and effective as of 11/1/2021, Americans are prohibited from investing in a total of 31 Chinese companies on the “black list” held by the US Department of Defense. in June and August of this year. The decree also requires US investors to sell all the stocks and shares they have in these companies within 1 year.
The companies affected are mainly the “big” of China that operate in the fields of aerospace, shipbuilding, telecommunications, railways and technology such as Hikvision, China Mobile, China Unicom, China Telecom, China Communications, China Railway Construction …
Earlier this month, also according to Reuters, the US Department of Defense plans to name four companies in question, bringing the total number of Chinese companies on the US blacklist to 35.
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| Tensions between the United States and China continue to rise. |
This list is said to be long. Before that, the American side also mentioned a list of up to 89 Chinese companies that cannot buy and sell a number of American products and technology.
China Commercial Aircraft Corporation (COMAC), a company trying to compete with Boeing and Airbus, is also on the list. The Aviation Industry Corporation of China (AVIC) and 10 related entities also share the same fate.
Under the decree, US suppliers must obtain permission to export a wide range of commercial products to the companies on this list. And, of course, requests of this type are more likely to be denied than approved.
Tensions between the United States and China continue to rise, as Joe Biden is just weeks away from taking office and replacing Donald Trump. Although busy with the legal battle against recent election results, Trump is still spreading the fight against Beijing to many areas, including financial markets, buying and selling of company stocks. China.
A series of wars of trade, technology, currency, capital … will reinforce President Donald Trump’s legacy of stance towards China, forcing the leader of the next Democratic Party to stay tough with the North. Kinh.
Accelerate punishments
New developments hampered investor enthusiasm in the US stock market. Consequently, many people worry that the Trump administration will continue to crack down on China for more than a month, before Trump leaves the White House.
The new decisions could make it difficult to reverse the Biden administration, at least in the short term.
The U.S. Securities and Exchange Commission (SEC) also has a plan to require Chinese companies whose shares are listed on the U.S. stock market must have U.S.-supervised audits, of which otherwise, they will be excluded from the markets. United States Stock Exchange.
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| The war between the United States and China is expected to last. |
The US government has also given ByteDance, which owns the TikTok app, from China for another week (until December 4) to sell its US business to US partners, namely Walmart and Oracle, otherwise, the application will be removed due to national security risks, as alleged by the Washington administration.
Earlier, US President Donald Trump asked ByteDance on August 14 to ditch TikTok in the US. Washington then extended the 15th to allow ByteDance to strike deals with US companies. According to the filing presented by TikTok to the court, the new deadline was set for December 4. Under pressure from the United States government, ByteDance has spent months of dialogue to finalize the deal with Walmart and Oracle.
President Donald Trump’s administration has repeatedly warned that it will ban the popular Chinese video-sharing app as it could be used for recognition.
Not just the US, Europe has also recently been wary of Chinese tech giants. Many European banks say they are wary of Chinese tech giants, such as Ant Group or Tencent, because they are corporations that could soon become their main competitors in the future.
In fact, Trump’s plans to attack China have been in the works for a long time. Recent events are just the latest escalating steps in parallel with the China-U.S. Trade war, which began in late March 2018 when President Trump announced a $ 50 billion tax on exported Chinese goods. to the US for allegations of unfair business practices and theft of intellectual property by China. Since then, the United States and China have taken many measures to retaliate, taxing many assets in many areas.
Despite the two countries reaching a phase 1 trade deal earlier this year, there are still many unresolved economic conflicts between the United States and China, especially the Covid-19 pandemic, which has made it difficult. should be more serious.
Capital penalties on Chinese companies have also been calculated for a long time. Earlier this year, President Trump asked federal pension funds to cancel plans to invest in Chinese companies. In August, the US State Department also urged universities to verify funding and reduce their holdings of Chinese stocks.
The executive order banning Americans from investing in Chinese companies suggests that Trump is more likely to use his remaining months in office to put more pressure on China.
M. Ha
