AP / Saul Loeb
Traders are getting ready for the Trump administration to expand its blacklist of Chinese technology champions, furthering the prospect of further escalation of the US-led trade war and China increased.
According to the New York Times, the White House is considering banning the export of US components to Hikvision, which would disrupt the flow of American technology to the Chinese video surveillance giant. As with the recent restrictions on Chinese telecommunications giant Huawei, American companies would need a license from the Department of Commerce to trade with Hikvision. Then try a tactical withdrawal, "said Neil Wilson, chief market analyst at Markets.com.
The Trump administration has targeted Chinese technology companies because of their close relationship with the Chinese government and the required laws because of national security concerns. "Traders are waiting for the next chapter in the ongoing commercial drama," said Jasper Lawler, Head of Research at the London Capital Group. Sentiment remains fragile as investors digest the shifting face of the trade dispute from compre hensive tariffs to direct action against individual Chinese companies. "
Chinese companies' ties to consumers and US corporations lead everyone This is a challenge to a break in trade relations. The White House has already relaxed its ban on Huawei, allowing it to buy US merchandise for three months to support existing equipment and equipment.
Trump sanctioned Huawei after he accused China of sabotaging a potential trade agreement and continued to increase tariffs on Chinese goods worth $ 200 billion and start preparing to extend tariffs to all of the US imported Chinese goods. China has countered US $ 60 billion in tariff increases for US goods, and Hikvision's inclusion in the US blacklist could trigger further reactions.
Here is the market overview from 1
- US stocks declined, and the Dow Jones Industrial Average gave the S & P 500 and the Nasdaq each by 0.3% after. ,
- European stocks retreated by 0.3% with the German DAX and the Euro Stoxx 50 and the British FTSE 100 by 0.1% ,
- Asian markets were mixed with the Shanghai Composite and the SZSE Component there was a minus of 0.5%, while Hong Kong's Hang Seng dropped by 0, 2% rose.
- The dollar soared to two weeks before the publication of the Federal Reserve's monetary policy minutes earlier this month. The protocol could signal a less cautious attitude by policymakers.
A bonus just for you: Click here to get 30 days access to Business Insider PRIME