6/27/2018

BUSINESS/CHINA/TARIFFS/TECHNOLOGY/TRUMP AS PRESIDENT: “President Donald Trump backed away from plans to create tough new restrictions on Chinese investments in the U.S. and U.S. technology exports to China, defusing one fight with Beijing as American business officials try to head off a looming battle over tariffs. The White House opted for a less confrontational approach with the U.S. economic rival and closer cooperation with Congress. The strategy was hotly debated within the administration for several days leading up to the decision, said administration officials. Among the factors in Mr. Trump’s decision: his own reservations about discouraging investment in the U.S. and his pique with a Wall Street Journal article reporting that the administration was moving toward a crackdown on China, the officials said. China experts say the White House decision to back away from a fight on investments and U.S. exports could provide an opening for renewed negotiations. With a July 6 deadline for tariffs approaching, prominent U.S. business executives are trying to ease the way for new discussions between Treasury Secretary Steven Mnuchin and China’s top economic envoy, Liu He.”

-Bob Davis, Peter Nicholas in Washington and Lingling Wei, “White House Retreats From Plans for Strict Limits on Chinese Investment,” The Wall Street Journal, June 27, 2018 11:31 pm