Trump Ratchets Up Trade War With Chinese IT Companies
US President Donald Trump has moved to ratchet up his current trade war with China by barring many Chinese companies from investing in US technology firms, and by blocking additional technology exports to Beijing, according to a Wall Street Journal report.
The twin initiatives are designed to prevent 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, including information technology, aerospace, electric vehicles and biotechnology.
Under current plans, companies with at least 25 percent Chinese ownership will be blocked from buying companies involved in what the White House calls “industrially significant technology.
Meanwhile the US 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.