China Says Washington Trade Actions Will Hurt American Workers

Donald Trump is set to stop Chinese companies from investing in US technology firms

Meanwhile, the Wall Street Journal reported that measures would likely target investments in the United States by any company with at least 25% Chinese ownership, as well as exports of technology by U.S. firms.

Goods from China are offloaded June 20 at a California port. Trump is due to announce new investment and export restrictions this week.

The current United States government will be able to reach agreements with China on non-discriminatory conditions of mutual trade.

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

New rules that would curb investment in American technology firms are reportedly in the works within the Treasury Department.

Mnuchin tweeted that these reports were "false, fake news", although he did not deny that the plans existed - only that they would be applied not just to China. The U.S. would block Chinese companies from investing in U.S. technology companies, while restricting U.S. technology exports to China.

Trump has threatened to impose tariffs of 10 percent to 25 percent on up to $450 billion of Chinese goods.

US Trade Representative Robert Lighthizer recently called China's treatment of US intellectual property "the most sinful" aspect of the US-China relationship.

"Authorities around the world will see the secretary as someone to go to for a thoughtful, rational, reasonable conversation about challenges that we face mutually or changes in the business cycle or multi-lateral policy changes", said Tim Adams, a former Treasury undersecretary in the George W. Bush administration."They see him as something of a point of stability".

"We need more than just talk, we need to demonstrate adherence to worldwide trading rules", said Katainen, proposing reforms to develop new rules for a "global level playing field" in key areas such as "industrial subsidies".

The economy "is going to a attractive place right now", Navarro said on CNBC.

At the close, the Dow was down 328 points, or 1.3%, while the Nasdaq dropped 2.1%.

This is what the South China Morning Post reported about Apple in early February this year: "The world's most valuable company reported on Thursday in the United States an 11% increase in its combined fiscal first-quarter revenue from mainland China, Hong Kong and Taiwan to US$17.9 billion, up from US$16.2 billion in the same period a year ago".

Even the hint of a possible CFIUS review can kill a potential investment.

The US claims that China's government unfairly supports Chinese companies in certain strategic industries.

The planned USA restrictions on Chinese investments in "industrially significant technology" are in large part fueled by American concerns about "Made in China 2025", Beijing's plan to boost industries like robotics, electric cars and aerospace with the aim of becoming a global leader in those areas.

As tensions continue to escalate, trade experts warn there are fewer options to resolve the dispute. Chinese President Xi Jinping allegedly said Beijing would "punch back".

"There are serious structural concerns about Chinese practices that can not be resolved without trust between the negotiating partners" and that trust is eroding in the current confrontation, he told AFP.

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