Why markets don't like United States investment restrictions on China


If the policy is global but only really effects China, then what's the difference?

The measures are part of the same broad United States move to confront Beijing over its unfair trade practices as the tariffs on $50 billion of Chinese goods that the Trump administration detailed earlier this month, the reports said.

The Trump administration's plan to deploy some of the most restrictive investment limits in its economic arsenal against China marks a setback for Treasury Secretary Steven Mnuchin's effort to take a less confrontational approach toward Beijing.

"The US's strategic position vis-a-vis China, and indeed the major parts of the world, is undergoing a major paradigm shift at the moment - from that of a global policeman to a more trade-focus posture", Oh said.

Liu He, vice premier of China's State Council, said in a speech quoted by Japan's Kyodo news agency: "Both sides agree to firmly oppose unilateralism and protectionism and prevent such practices from impacting the world economy or even dragging the world economy into recession".

Conflicting signals from the Trump administration over proposed restrictions on foreign investment in USA technology companies, along with news that recently imposed import tariffs are starting to disrupt supply chains, sent global stock markets tumbling on Monday.

The EU wants other governments to join the group, the Associated Press reported Katainen as saying.

That follows Trump's threat to hike tariffs on Chinese imports worth up to $450 billion over complaints Beijing steals or pressures foreign companies to hand over technology.

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Mattis was also likely to address U.S. concerns about China's latest moves to assert control over the disputed South China Sea, including the deployment of military aircraft and missile batteries.

Beijing is also suspicious of USA intentions toward self-governing and democratic Taiwan, which is armed by the United States.

China is now the world's second-largest beef importer, taking in nearly 700,000 tonnes of the red meat in 2017, worth about $3.3 billion, with volumes up 20 percent from the year before, according to Chinese customs.

This comes as Defense Secretary James Mattis visits China in an effort to discuss security with Beijing.

A senior Pentagon official said they see China as continuing to enforce sanctions on Pyongyang as negotiations on a denuclearization plan continue. Beijing chose to impose 659 American goods with duties in the same 25%.

But the Communist government has resisted any change to its plans that call for challenging USA and European technology dominance by creating Chinese companies capable of competing in fields including clean energy, biotech and aerospace.

That means "massively expanding the role of government" in the economy using national security as the justification, he added. European Union companies and officials harbor concerns about Beijing's policies that are shared by their counterparts in Washington.

French meat industry association Interbev said it expected actual beef exports to China to begin in September, after China has granted licenses to seven slaughterhouses that have applied.