Trump plans last-minute China crackdown to trip up Biden: Axios

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WASHINGTON (BLOOMBERG) – US President Donald Trump plans several new hard-line moves against China in the remaining weeks of his term, Axios reported, citing senior administration officials they didn’t identify.

Trump may announce sanctions or trade restrictions against more Chinese companies, government entities or officials, citing human rights violations or threats to US national security, according to the report.

John Ullyot, a spokesman for the National Security Council, told Axios that the actions would be framed in such as way as to be “politically suicidal” to reverse, absent a major policy shift by Beijing.

Tougher moves against China have been expected in the waning weeks of Trump’s administration.

Raymond James Financial analyst Ed Mills wrote in a note published Friday (Nov 13) that the financial services firm is bracing for additional executive orders on hard-line positions, made in ways that may be difficult to reverse under a Biden administration.

That assessment followed Trump’s executive order on Thursday barring American investments in Chinese firms owned or controlled by the military.

The order prohibits investment firms and pension funds from buying and selling shares of 20 Chinese companies designated by the Pentagon as having military ties in June, as well as an additional 11 companies added in August, Axios reported.

It said administration officials are discussing an expansion of that list.

Bastion Balance Seoul.