Last week, the White House announced a 100% Section 232 tariff on large drones and critical components, citing their dual-use applications. The duties are set to take effect on September 3.
This year is shaping up to be a prolific—if challenging—year for Chinese investment in the United States. The Rhodium Group has already recorded more than $22 billion worth of pending Chinese acquisitions in the United States. So far, 2016 is outpacing China’s rate of investment in the United States during the same period in 2015 and 2014. As in previous years, the Committee on Foreign Investment in the United States (CFIUS or the Committee) has figured prominently in investment decisions and the fate of many proposed transactions.
Foreign non-governmental organization (NGO) law deliberations began roughly one year ago. The final law made changes to the draft that addressed two of USCBC’s suggestions: to remove limits on the number of China-based foreign representative offices and the percentage of foreign NGO staff organizations can employ. The law takes effect on January 1, 2017.
China’s State Council released a nationwide Action Plan for Soil Pollution Prevention and Control on May 31 that calls for laws to monitor, prevent, and remediate soil pollution, and aims to incrementally improve soil quality across the country by mid-century. Specifically, the plan aims to make 90 percent of polluted arable land safe for human use by 2020, and increases that target to 95 percent by 2030.
We often hear that China “manipulates its currency” and harms the US economy. Some say if we punish China as a manipulator or slap tariffs on Chinese goods it would reduce our trade deficit.
In June, the IMF for the second year in a row said that China’s currency largely reflects its fair value. Why doesn’t the exchange rate have much of an impact on the US trade balance with China? Put simply, imports from China largely replace other imports, not US production.
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US businesses can take advantage of China’s growth by using renminbi (RMB) and partnering with an international bank with RMB experience and capabilities. Debra Lodge, a Managing Director for HSBC Global Markets who is responsible for leading Renminbi Business Development in the United States and Canada. Lodge explained to CBR how using RMB can benefit US companies.
BHP Billiton CEO Andrew Mackenzie told Asia Society on June 20 that globalization and free trade help the future of the economic relationship between the United States and Asia. Mackenzie was joined in conversation by the journalist Richard Lui.
As the Group of 20 (G20) Summit—the annual, large-scale global government conference—heads for Hangzhou, China in September, companies with operations in the Yangtze River Delta (YRD) region are planning for expected disruptions to production and logistics.
Premier Li Keqiang delivered China’s 13th Five-Year Plan (FYP) on March 5 to the 12th National People’s Congress. The plan sets forth clear goals for overhauling or eliminating inefficient, outdated, or overcapacity industries and production facilities, increasing renewable energy production, and developing green infrastructure.
