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China defends its USA investment record

26 June, 2018, 23:54 | Author: Lawrence Cooper
  • The US stock market fell by more than 0.5 percent after the news was revealed

Several of the market's favorite semiconductor names are tanking on Monday as investors grow concerned over President Donald Trump's plan to restrict foreign investments in USA technology companies.

Katainen also talked about the trade differences that the EU has had with China for some time, such as better access to the Chinese market for European companies and products, or the concerns due to the modernization programme "Made in China 2025" that included important subsidies to Chinese high-tech companies. Katainen urged China to tackle overcapacity in its steel, aluminum, and other sectors including technology, the European Union said in a statement. He has since escalated that to threats of tariffs on billions more dollars of goods imported into the United States, causing threats of retaliation from China.

By mid-afternoon, the S&P 500 was down 1.83%, and the Nasdaq had fallen 2.33%.

However, Treasury Secretary Steven Mnuchin denied the report saying any measures would apply to all countries stealing USA technology.

It added that Treasury Secretary Steven Mnuchin is expected to push for the plan in a report set for release on Friday. CFIUS reviews-or the threat of reviews-have largely halted Chinese purchases of US semiconductor companies.

The Dow, a narrow gauge of 30 US stocks, has declined in nine of the past 10 trading days - a remarkably long losing streak that adds up to a 4.6 per cent decline.

China signed a deal on Monday to lift a ban on French beef and said discussions to buy Airbus planes remained open as French Prime Minister Edouard Philippe ended a four-day visit. Some U.S. steel and aluminium tariffs went into effect in April and additional tariffs begin in July. Among big USA movers, Intel Corp. fell 3.4 per cent, Visa Inc. fell 3.2 per cent and Boeing Co. fell 2.2 per cent.

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Lukaku's brace puts him joint top with Portugal's Cristiano Ronaldo in the race for World Cup golden boot. Now Tunisia , to have any chance, needed to keep the score at this at least till half-time.

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The disagreements were also about US tariffs on $34 billion worth of Chinese goods that are scheduled to go into effect on July 6, which China said would trigger retaliation involving its imports of American soybeans and motor vehicles.

US and Canadian stocks suffered their worst one-day decline in several months on Monday, amid rising global trade tensions and their potential impact on the world economy.

"In the West you have the notion that if somebody hits you on the left cheek, you turn the other cheek", the Chinese leader said, according to the WSJ report citing people briefed on1qaa the meeting.

The administration could expand existing authorities for the Committee on Foreign Investment in the United States, or CFIUS, which is led by the Treasury and which already has blocked some Chinese investments in ports and semiconductors.

Spokespersons for the Treasury and the Commerce Department did not respond to requests for comment on their investment and export control plans.

Earlier policymakers in China moved quickly to temper any potential impact on economic growth from Beijing's trade dispute with the United States.

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