Mattis arrives in China; NKorea to be key topic of meetings

Mattis arrives in China; NKorea to be key topic of meetings

Mattis arrives in China; NKorea to be key topic of meetings

US President Donald Trump's top trade adviser sought to tamp down market panic over the White House's plans for investment restrictions against China by calling investors' interpretations "a misunderstanding".

Those concerns were stoked Monday by reports that the Treasury Department is looking at an emergency law beefing up scrutiny of investment by Chinese firms in sensitive U.S. industries. The forthcoming restrictions would apply "to all countries that are trying to steal our technology", he said.

He sees joint-venture projects as key to maintaining American dominance, something he says has happened in the field of Artificial Intelligence (AI), citing the examples of Google and Microsoft, who have both invested heavily in China.

Chinese President Xi Jinping said last week that he will not hesitate to retaliate against the U.S. on trade, The Wall Street Journal reported Monday, citing sources.

This was reported by the Wall Street Journal, reports Interfax-Ukraine. Does that remove the risk for maneuver and compromise in the U.S.?

The pan-European FTSEurofirst 300 index .FTEU3 lost 2.19 percent and MSCI's gauge of stocks across the globe.MIWD00000PUS shed 1.41 percent.

Mattis recently criticised China's militarisation in the South China Sea in recent months in his speech at the Shangri-La Dialogue in Singapore, highlighting China's deployment of anti-ship missiles, surface-to-air missiles, electronic jammers, and more recently, the landing of bomber aircraft at Woody Island. Some U.S. steel and aluminium tariffs went into effect in April and additional tariffs begin in July.

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The 23rd-ranked team has always been a long-shot to win the Cup this year, having only progressed to the quarter-finals in 2014. He told the gathered media after the game, "It kind of pulled a muscle - it tore some fibres, I think".

A slightly newer development compared to the other tariff disputes, but what seems to be the next step in the saga is the automotive industry, with Trump's latest proposal to slap 20% tariffs on European Union vehicle exports in response to the bloc's reaction to the USA steel and aluminium duties.

The conflicting signals on trade policy from the Trump administration reflect deep divisions among policymakers over how hard to push China on demands for changes in trade, technology transfers, and industrial policies.

US Treasury Secretary Steven Mnuchin denied both reports.

This is starting to look like a high stakes ping pong match with another CNBC headline saying it all: 'Dow drops more than 300 points as investors brace for further trade actions against China'.

I'd like to have faith in the big guy, that it will all end like one of his scripts from his TV show, but the apprentice President might just have ruined a bull market that he helped to sustain. "The rhetoric is getting stronger rather than weaker". "Nobody wins" a trade war, IMF Managing Director Christine Lagarde said in a statement earlier this month. "It's bad for growth", he said.

This comes as Defense Secretary James Mattis visits China in an effort to discuss security with Beijing. Congress, in parallel, is working on legislation to reform the Committee on Foreign Investment in the United States, which would scrutinize inbound investment in the US on national security grounds.

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