{"id":550491,"date":"2021-06-03T08:15:09","date_gmt":"2021-06-03T12:15:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=550491"},"modified":"2021-06-03T08:35:17","modified_gmt":"2021-06-03T12:35:17","slug":"biden-to-overhaul-trumps-china-investment-blacklist-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-overhaul-trumps-china-investment-blacklist-report\/","title":{"rendered":"Biden to Overhaul Trump&#039;s China Investment Blacklist: Report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-to-overhaul-trumps-china-investment-blacklist-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=550491&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GetFile-127.aspx\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p>Joe Biden intends to this week overhaul a list of Chinese firms that U.S. investors are allowed to own shares in, as the president re-evaluates the world powers&#8217; post-Trump relationship while maintaining pressure on Beijing.<\/p>\n<p>Donald Trump prohibited Americans from buying stakes in 31 Chinese companies that were deemed to be supplying or supporting China&#8217;s military and security apparatus.<\/p>\n<p>The list included major telecoms, construction and technology firms such as China Mobile, China Telecom, video surveillance firm Hikvision, and China Railway Construction Corp.<\/p>\n<p>It was among a series of measures by the White House aimed at quelling the Asian giant&#8217;s rise and which has left ties between the two severely strained.<\/p>\n<p>Beijing repeated its outrage of the Trump-era blacklist Thursday and vowed to protect Chinese companies&#8217; rights, claiming the blacklist was &#8220;politically-motivated&#8221; and &#8220;ignores the facts and actual situation&#8221; of the firms involved.<\/p>\n<p>The ban &#8220;severely undermines normal market rules and order&#8221; and &#8220;damages &#8230; the interests of global investors including US investors,&#8221; foreign ministry spokesman Wang Wenbin said at a routine briefing.<\/p>\n<p>Biden&#8217;s new order will see the Treasury Department create a list of firms that would be hit with financial penalties for their links with China&#8217;s defence and surveillance technology sectors, Bloomberg News reported without citing sources. The president is expected to sign the order this week, it added.<\/p>\n<p>Previously, the sanctions and choice of targets were tied to a congressionally mandated Defense Department report.<\/p>\n<p>The review came after two Chinese companies successfully challenged the order in court, and Biden said it was needed to be sure it was legally watertight and sustainable.<\/p>\n<p>While the Biden administration has pledged to take a more diplomatic line with China following the upheaval of his predecessor, he has said he will keep to a strict line on several issues including defence and technology.<\/p>\n<p>He is expected to keep the list largely intact, while the Treasury&#8217;s Office of Foreign Assets Control will add new firms after consulting the departments of Defense and State.<\/p>\n<p>A tough line on China has rare cross-party support on Capitol Hill, with lawmakers determined to keep a lid on its growing global clout.<\/p>\n<p>Republican senators Tom Cotton and Marco Rubio, alongside Democrats Gary Peters and Mark Kelly, published a bi-partisan letter earlier this week urging the administration to publish a new list.<\/p>\n<p>&#8220;The US government must continue to act boldly in blocking the Chinese Communist Party&#8217;s economic predation against our industrial base,&#8221; they said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joe Biden intends to this week overhaul a list of Chinese firms that U.S. investors are allowed to own shares in, as the president re-evaluates the world powers&#8217; post-Trump relationship &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2279025,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GetFile-127.aspx","fifu_image_alt":"Biden to Overhaul Trump&#039;s China Investment Blacklist: Report","footnotes":""},"categories":[],"tags":[],"class_list":["post-550491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GetFile-127.aspx","fifu_image_alt":"Biden to Overhaul Trump&#039;s China Investment Blacklist: Report","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/550491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=550491"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/550491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2279025"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=550491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=550491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=550491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}