Sunday, 18 November, 2018

U.S. stocks trend higher on softening USA stance for China investments

Trump takes softer approach to restricting Chinese investment backs bipartisan legislation expanding reviews A worker inspects the micro-motors for handsets at a factory in Huaibei China on June 23
Leonard Rios | 30 June, 2018, 19:50

Instead, the promised export controls were replaced by a Commerce Department study and a reliance upon legislation to enhance the Committee on Foreign Investment in the United States, or CFIUS.

Stock futures, which had been lower because of fears that Trump might institute Chinese investment bans and escalate a trade war, ticked up after news that his plan is less restrictive.

The House on Tuesday approved a bipartisan bill 400 to 2. "Using CFIUS on a case-by-case basis to try to change Chinese approaches to industrial policy would be neither efficient nor effective".

The measure gives the Committee on Foreign Investment in the United States more power to review sensitive investments involving China, Russia and state sponsors or terrorism, allows reviews of land purchases near US military installations and ports and could stop key technology from being exported to China and other countries.

While Wednesday's statement from the president does not explicitly mention China, reports indicated that Trump was considering much harsher measures to specifically block Chinese investment as part of the ongoing fight over Chinese theft of American intellectual property.

Last month, the White House said that by the end of this week, it would announce tight new curbs on Chinese investment.

The Senate Banking Committee also approved a version of the reform, so the two chambers will have to reconcile them into a single bill for Trump to sign.

President Donald Trump has announced the results of a review into Chinese investment in U.S. tech companies.

On Wednesday, Trump said the proposed legislation would allow the United States to protect its technological crown jewels without compromising an open investment climate."I have concluded that such legislation will provide additional tools to combat the predatory investment practices that threaten our critical technology leadership, national security, and future economic prosperity", he said.

Jan Bednarek ensures victory for Poland, but Japan still reach last 16
So Japan goes through and next plays the victor of Group G on Monday, while Colombia will face the Group G runner-up Tuesday. Poland , for the third straight World Cup that it has competed in, lost its first two group matches and then won its third.

Argentina striker Aguero snaps: Let Sampaoli say what he wants
Pablo Zabaleta has made shocking revelations about the emotional state of Argentina star player Lionel Messi's emotional state. The five-time Ballon d'Or award winners have not won the FIFA World Cup and continues to be a dream for them.

Colombia feeling pressure of potential early World Cup exit
Rodriguez has now been directly involved in nine goals in seven World Cup appearances for Colombia , scoring six and assisting on three.

The controls would be announced by tomorrow and would "be implemented shortly thereafter", it said.

"I welcome the president's tough action to prevent any country from stealing our vital technology through investing in or acquiring United States companies", Rep. Kevin Brady, the House Ways and Means Committee chair, said in a statement.

The Treasury-led panel reviews proposed acquisitions of USA assets by foreign investors, which the president can veto.

"It's never a good idea to politicize foreign economic policy", said John Zindar, a partner with the European-American Business Organization and a former U.S. Army intelligence officer.

The House passed a bill expanding CFIUS' authority this week.

He has often criticized China harshly, accusing it of "economic aggression", yet insisted that he considers Chinese President Xi Jinping a friend.

In his approach to China, Trump repeatedly has oscillated between tough talk and conciliation.

The president can direct CFIUS to heighten scrutiny on sensitive technologies. Rhodium Group estimates Chinese entities invested $29.7 billion in USA companies in 2017. "If they can't steal it, they want to buy it".

Meanwhile, trade tensions between the two countries remain high, with 25 per cent tariffs on US$34 billion worth of Chinese products due to come into force next week.

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