U.S. President Donald Trump and China’s President Xi Jinping make joint statements at the Great Hall of the People in Beijing, China, November 9, 2017. REUTERS/Jonathan Ernst – RC1CFD862A40 (Reuters)
President Trump is preparing a plan that will further ramp up trade concerns with China.
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The plan would bar many Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing, according to Dow Jones.
The curbs are reportedly set to be announced by the end of the week.
They are aimed at preventing Beijing from moving ahead with plans outlined in its “Made in China 2025” report to become a global leader in 10 broad areas of technology.
The Treasury Department would block firms with at least 25% Chinese ownership from buying companies involved in what the White House calls “industrially significant technology.”
In addition, the National Security Council and the Commerce Department are putting together plans for “enhanced” export controls, designed to keep such technologies from being shipped to China, said the people familiar with the proposals.
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Last week, Trump threatened to impose tariffs on as much as $450 billion of Chinese goods.
Tariffs of 25% go into effect on $34 billion of Chinese imports on July 6.
Beijing has threatened to match the U.S. tariffs on the same day on a dollar-for-dollar basis.
