U.S. restrictions on Chinese investment next front in trade dispute

U.S. Treasury's Mnuchin says new investment curbs not specific to China

U.S. Treasury Secretary Steven Mnuchin on Monday said forthcoming investment restrictions would apply "to all countries that are trying to steal our technology", not just to China. He warned that Beijing had an "enormous array of tools to put pressure on American companies" like Apple and GM, companies that really depend on China.

Also Monday, Wisconsin's Harley-Davidson tumbled more than 6% after saying it would move some production out of the U.S. amid retaliatory tariffs the company said would bring about a "tremendous cost increase". CFIUS reviews-or the threat of reviews-have largely halted Chinese purchases of USA semiconductor companies.

The disagreements were also about USA 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.

The Dow, a narrow gauge of 30 USA 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. The S&P technology index.SPLRCT fell 2.3 percent, the most among the major S&P 11 sectors.

He said markets have misunderstood the president's plans.

Harley-Davidson sank 6.0 per cent as it announced it would shift some USA manufacturing capacity overseas due to European Union tariffs on U.S. motorcycle exports.

Last chance saloon for Messi, Argentina
His 31st birthday on Sunday only served to highlight how time is running out for Messi to win a major worldwide tournament. Three finals in three years, that's not so shabby for a guy who played 50-plus other games each year for Barcelona .

Erdoğan declares victory in Turkish presidential vote
Election turnout nationwide was very high at around 87 percent for both contests, the state broadcaster said. More than 59 million Turkish citizens, including three million living overseas , were eligible to vote .

Optus to offer World Cup matches from SBS after streaming problems
Optus also suggested that most of the problems were with customers using Apple devices and on broadband networks other than its own.

It also said it would unveil a revised list of Chinese goods for tariffs, which it did on June 15. "Trade must be fair and no longer a one way street!"

Bloomberg updated the article after the tweet to note, despite the Treasury secretary's insistence that China was not the target of the investment curbs, the president's memorandum ordering him to draft the limits specifically cited China. The administration could expand the existing authority of the Committee on Foreign Investment in the United States, or CFIUS, which is led by the Treasury and which already has blocked Chinese investments, in ports and semiconductors. The administration is still debating some aspects of the new investment restrictions that are set to be announced on Friday, a government official said.

Stocks fell in midday trading Monday, with the Dow Jones industrial average down as much as 446 points, amid reports of protectionist policy pushes by the Trump administration that would ramp up trade tensions on multiple fronts.

The White House, Treasury Department and Commerce Department did not immediately reply to requests for comment.

Airbus could stand to benefit if China's looming trade war with the United States prompts Beijing to favour the European aerospace giant over USA rival Boeing.

Related news:

Hot News

isis-killer-beheading-video-story-top 3 things we learned from England’s crushing of Panama
Jun 26, 2018 - 23:37
The outcome leaves England on the same goal difference as Belgium, and the top spot will likely be determined by fair play points. England are now above Belgium by virtue of having picked up fewer yellow cards than Roberto Martinez' side.

isis-killer-beheading-video-story-top World Cup Group C match report Australia v Peru 26 June 2018
Jun 26, 2018 - 23:30
The Australians had to beat Peru and hope Denmark lost to France in the other Group C match, but neither result occurred. It played relatively well in the opener against the French and had chances to get more than a draw against Denmark.

isis-killer-beheading-video-story-top The Border Security And Immigration Reform Act
Jun 26, 2018 - 22:25
House Minority Leader Nancy Pelosi said the more moderate Republican bill is "a compromise with the devil". Instead, Trump has blamed the Democrats for refusing to acquiesce to his demands on immigration.

Restaurant refuses to serve Trump spokeswoman
Jun 25, 2018 - 09:25
Stephen Russek, a former restaurant owner in the area, said "they had no right to do that". "They ought to be shut down". Despite that, according to Freidman, people actually called his Italian-influenced restaurants threatening them.

isis-killer-beheading-video-story-top Colombia cruise past Poland to keep World Cup hopes alive
Jun 25, 2018 - 07:19
Colombia thrashed Poland 3-0 in their second group encounter of the FIFA World Cup 2018, at the Kazan Arena in Kazan to take all three points.

isis-killer-beheading-video-story-top Trump calls for deporting illegal immigrants with 'no judges or court cases'
Jun 25, 2018 - 06:35
Some of the separated children were seen using the blankets on government-distributed video of their holding conditions. Those seeking asylum must be granted a hearing. " Most children come without parents", Trump wrote on Twitter .

England and Panama fans party until dawn
Jun 25, 2018 - 05:40
The next tiebreaker is fair play - i.e. the amount of yellow and red cards accumulated by a team throughout the group stage. Both teams have scored eight goals and conceded two in the opening group games, putting them completely level.

isis-killer-beheading-video-story-top ‘This is Nigeria’ - Super Eagles’ victory over Iceland sends Twitter into frenzy
Jun 23, 2018 - 08:10
The Super Eagles started the game in shy form, putting together a first half performance that was at times cold and even dicey. Both teams struggled to find any penetration in the first half, with Iceland only coming alive in the final couple of minutes.

isis-killer-beheading-video-story-top Trump Abandons His Policy Of Separating Immigrant Families
Jun 23, 2018 - 07:16
And it revises the longstanding preference for family visas in favor of a merit system based on education level and work skills. Republicans have never been able to pass a big immigration overhaul on their own, despite talking about the issue for years.

isis-killer-beheading-video-story-top Saudi Stock Exchange gets key MSCI upgrade
Jun 23, 2018 - 06:57
The Invesco MSCI Saudi Arabia Ucits ETF, will offer investors pure passive exposure to the largest economy in the Middle East. MSCI provides almost 100,000 daily indexes of stocks, bonds and other assets worldwide.

isis-killer-beheading-video-story-top Measure the length of objects using AR on any ARCore device
Jun 23, 2018 - 06:50
However, Google explicity states that measurements taken through the app are estimates, and might not always be 100% accurate. On launching the app, it will ask you to grant various permissions and provide information on how to use the tool.

isis-killer-beheading-video-story-top Leaked England line-up photo appears to show Sterling is out
Jun 23, 2018 - 06:46
Learn from the best as ESPN meets future England stars Phil Foden, Ryan Sessegnon and Mason Mount in Russian Federation . Sterling's problem, one Rashford may be able to exploit, is his lack of impact for England .

Melania Trump wears ‘I really don't care' jacket before visiting migrant children
Jun 23, 2018 - 06:05
The unusual jacket looked out of place in the wardrobe of the First Lady, who is known to impress in the sartorial stakes. Given that, her choice to wear the $39 Zara jacket as she headed on her unexpected trip to the border raised eyebrows.

isis-killer-beheading-video-story-top North Korean defector says Kim Jong Un ‘can trick the world’
Jun 22, 2018 - 23:59
The U.S. official said: "The United States will continue to monitor this site closely as we move forward in our negotiations". The 1950-53 Korean War was concluded only with a truce, not a peace treaty, leaving the combatants technically still at war.

isis-killer-beheading-video-story-top European Union says it will start to impose tariffs on United States on Friday
Jun 22, 2018 - 20:56
Canada was next at 22 percent, followed by Japan (21 percent), Germany (11 percent) and South Korea (8 percent). It's reported that Trump said the tax would be upheld until Fifth Avenue was devoid of Mercedes models.