Monday, 24 September, 2018

Donald Trump backs off imposing China investment limits

White House decides against outright limits on Chinese investment Trump crackdown on China investment in US, chooses lighter option
Elsie Buchanan | 28 June, 2018, 05:55

He said if this measure does not ultimately make it through Congress, the administration would return to a review of the powers at its disposal to protect sensitive USA technology. The bill strengthens the Committee on Foreign Investment.

Congress is working on legislation that would strengthen the Committee on Foreign Investment in the United States, an inter-agency panel chaired by the Treasury Department.

USA stocks finished solidly lower on Wednesday (Jun 27) as the Trump administration sent mixed signals on China, reviving fears that a trade fight between Washington and Beijing would escalate.

Instead of immediate bans on Chinese investment created to protect sensitive USA technology industries, the administration said it would work with Congress to pass a bill that will provide "enhancements" to the foreign investment reviews under the existing Committee on Foreign Investment in the United States. While CFIUS reviews are technically voluntary, the bill would require foreign investors that are at least 25 percent owned by foreign governments to go through CFIUS when they are acquiring at least a 25 percent stake in a US business.

Each chamber has passed a version of the bill, which would expand on existing tools for the Committee on Foreign Investment in the United States (CFIUS).

President Trump had called for wide-ranging restrictions on Chinese investment in USA companies.

US Supreme Court Justice Kennedy to retire
In October, Kavanaugh dissented when his court ruled that a teenage migrant in federal custody should be able to obtain an abortion immediately.


The decision marks a victory for Mnuchin in a fierce internal debate within the Trump administration over the scope of China investment restrictions, in which he had clashed earlier this week with White House trade and manufacturing adviser Peter Navarro.

However, Trump warned that if Congress failed "to pass strong FIRRMA legislation that better protects the crown jewels of American technology and intellectual property from transfers and acquisitions that threaten our national security-and future economic prosperity" that he would direct his administration "to deploy new tools, developed under existing authorities, that will do so globally".

"It shows the Chinese that the Trump administration is still undependable and can be moved back from the most hardline positions", Kennedy added.

Trump's deference to Congress in his effort to address concerns about Chinese acquisitions of USA technology gives FIRRMA a better chance of becoming law. "But we are not going to, on a wholesale basis, discriminate against China as part of a negotiation".

On Tuesday, FIRRMA, which has bipartisan support, passed the House of Representatives overwhelmingly. CFIUS is able to respond appropriately to different threats on different technologies posed by different entities from different countries, he said.

Chinese private equity firm Canyon Bridge Capital Partners' proposal to buy USA chip maker Lattice Semiconductor Corp for US$1.3 billion and Ant Financial's attempt to buy MoneyGram International for US$1.2 billion were both blocked by Trump on CFIUS' recommendation.

Recommended

  • Trump warns Harley-Davidson: 'We won't forget'

    Trump warns Harley-Davidson: 'We won't forget'

    He said the company has been working with Twitter to see if the tweets could be removed and to figure out where they originated. On March 9, Trump had imposed heavy tariffs on imported steel and aluminium items, leading to fears of a global trade war.
    United States  gives Disney-Fox deal antitrust approval

    United States gives Disney-Fox deal antitrust approval

    Fox has claimed that any tie-up with Comcast could face a tougher road with regulators, despite claims by Comcast to the contrary. That threat prompted AT&T Inc.to buy Time Warner Inc., a deal the government challenged and lost at trial earlier this month.
    Alexandria Ocasio-Cortez, 28, defeats long-time U.S. Rep. Joseph Crowley (Tylt)

    Alexandria Ocasio-Cortez, 28, defeats long-time U.S. Rep. Joseph Crowley (Tylt)

    Last weekend, just days before the primary, Ocasio-Cortez left NY to join protests at an ICE detention center in Texas. They thanked each other after the result, with Mr Crowley saying he would support Ms Ocasio-Cortez in the mid-terms.
  • Italy says 'arrogant' France could become main enemy on migration

    Italy says 'arrogant' France could become main enemy on migration

    If that fails, he has vowed to order border police to turn back migrants, which means many will likely have to return to Italy. The Visegrad countries - Hungary, Czech Republic, Poland and Slovakia - have already announced boycott of the meeting.
    Supreme Court justice's retirement is a gift for Donald Trump

    Supreme Court justice's retirement is a gift for Donald Trump

    A sixth Muslim-majority nation, Chad, also was included in the ban before the Trump administration removed it from the list . The GOP leader argued then that consideration of a new Supreme Court justice should not take place during an election year.
    Harley-Davidson to shift production overseas as European Union  tariffs bite

    Harley-Davidson to shift production overseas as European Union tariffs bite

    While Trump has repeatedly claimed that the USA can win trade wars, victims are starting to pile up at home and overseas . With the European Union tariffs applied, the average cost of a bike faces an increase of around $2,200, it's calculated.
  • Serbia vs Brazil: Mitrovic ready to inflict WC agony on Selecaos

    Serbia vs Brazil: Mitrovic ready to inflict WC agony on Selecaos

    Neymar has been backed by many to win the World Cup Golden Boot in Russian Federation . Brazil need just a draw to secure qualification for the last 16.
    US stocks slide on escalating US-China trade tension

    US stocks slide on escalating US-China trade tension

    Beijing is also suspicious of USA intentions toward self-governing and democratic Taiwan, which is armed by the United States. Mattis said he sought "open dialogue" at a strategic level when he met with military officials in Beijing .
    Kushner Rips Abbas, Says Mideast Peace Plan Due 'Soon'

    Kushner Rips Abbas, Says Mideast Peace Plan Due 'Soon'

    Kushner said Arab leaders had told him they wanted to see a Palestinian state, long the foundation of USA policy in the region. Palestinians seek east Jerusalem as the capital of a future state they hope will also include the West Bank and Gaza Strip.
  • Lakers Again Approach Spurs On Kawhi Leonard Trade

    Lakers Again Approach Spurs On Kawhi Leonard Trade

    Aldridge becomes even more expendable if the Spurs were to trade for a young building block like Brandon Ingram or Markelle Fultz. However, he needs the Spurs , who reportedly don't want to trade Leonard within the Western Conference, to play ball.
    Belgium's Romelu Lukaku to recover from injury in time to face England

    Belgium's Romelu Lukaku to recover from injury in time to face England

    I go back to the fact we're trying to develop a winning mentality and I can't imagine a situation where I talk to the players about anything else.

    Xi has strong words for Trump: 'In our culture, we punch back'

    China and the European Union will exchange offers related to market access at an upcoming summit in July, Liu said on Monday. The administration could declare an economic emergency, or IEEPA, to justify the restrictions, according to the report.

Mexico on brink of last 16 after confident win over South Korea Mexico on brink of last 16 after confident win over South Korea Coach Joachim Loew said the goal is to make sure the mistakes that happened against Mexico are not repeated against Sweden. Day 10 at the 2018 World Cup gave us 13 games, three winners and an absolutely insane finish in the last game.

Mexico, Sweden Both Unchanged For World Cup Mexico, Sweden Both Unchanged For World Cup In Osorio's case, it was the first time he hadn't altered his starting 11 in consecutive games since he took over in 2015. Andreas Granqvist converted the penalty for Sweden's second goal in a 3-0 win for the Europeans .

Russia Player Inadvertently Helps Suarez To Score A Free-Kick Russia Player Inadvertently Helps Suarez To Score A Free-Kick The same goes for Uruguay , which has scored just two World Cup goals so far, far fewer than they're capable of netting. Saudi Arabia won 2-1 in the match vs Egypt on Monday in the last game of the FIFA World Cup 2018 group stage.

Ant-Man 2: Civil War Aftermath & New Suit Ant-Man 2: Civil War Aftermath & New Suit So, on top of that whole superhero thing, there's the perpetual threat Scott could get caught by the authorities. The events of "Ant-Man and the Wasp" are going on at the same time the Avengers are battling Thanos.

'Cutting Iran's oil from market by November impossible' 'Cutting Iran's oil from market by November  impossible' Iran eased its "resistance economy" policy after many worldwide sanctions were lifted in January 2016 under the nuclear deal. Hundreds of merchants gathered in front of parliament in Tehran on Monday to protest at the rial's fall, witnesses said.

In major United States cities conducted a large-scale gay pride parades In major United States  cities conducted a large-scale gay pride parades Burnaby's lesbian, gay, bisexual and transgender (LGBT) community is set to have its first-ever pride celebration in the city. Singh said it was not surprising Doug Ford decided not to appear.

Uruguay take top spot Uruguay take top spot Uruguay have finished as first round group winners for the fifth time, having done so previously in 1930, 1950, 1954 and 2010. But perhaps the biggest plus was the late goal from Cavani, who had been frustrated during the group stage.

South Korea stuns Germany 2-0 South Korea stuns Germany 2-0 With Mexico taking control of the group, Germany can still finish as the runner-up with good results in their last two matches. World champions Germany failed to progress to the knockout stages at the 2018 World Cup after losing 2-0 to Korea Republic .

Germany to coast past an underwhelming South Korea Germany to coast past an underwhelming South Korea But after a 1-1 draw against Switzerland, Brazil needed two injury-time goals to pull out a 2-0 victory over Costa Rica . If both draws are with the same score, Germany finish second due to their head-to-head win over Sweden.

IOS 12 public beta: the best features IOS 12 public beta: the best features There's a lot to like about Apple's new update , but there are some reasons why you might want to keep your device on iOS 11 . However, it is still recommended to download the beta profile on a spare iOS device and not your primary iPhone or iPad.

Hamilton tops charts on first day of French GP practice Hamilton tops charts on first day of French GP practice McLaren still fared better than former champions Williams, who had Russian Sergey Sirotkin 19th and Canadian Lance Stroll 20th. Renault's Carlos Sainz was seventh fastest and Sauber's Charles Leclerc an eye-catching eighth.

Joe Jackson, father of Michael Jackson, dead at 89 Joe Jackson, father of Michael Jackson, dead at 89 Joe Jackson , the father of late singer Michael Jackson , has died at the age of 89 , U.S. media report . Jackson focused instead on his daughter Janet , who went on to become a massive star.

Federer saves two match points in Halle win over Paire Federer saves two match points in Halle win over Paire Coric had an easy day advancing when Roberto Bautista Agut retired at 2-3 with a hip injury. With this win, Federer extended his winning streak on the grass-court to 19 matches.

Hamilton gets more powerful engine for France Hamilton gets more powerful engine for France He eventually pitted after 33 laps and came out behind Raikkonen, who led him by three seconds with Verstappen third. Fernando Alonso , who won the 24 Hours of Le Mans just last weekend, found himself classified 16th in the race.

Prince William in Israel as part of historic regional tour Prince William in Israel as part of historic regional tour Israel defines Jerusalem as its "eternal and indivisible" capital, while the Palestinians see east Jerusalem as the capital of their future state.