Commission urges ban on Chinese ownership of US firms

Chinese state-owned enterprises should be banned from acquiring or otherwise gaining control of US companies, the US-China Economic & Security Review Commission said in a report to the US Congress on Wednesday November 16.

Such a move would change the playing field in the domestic US steel and aluminium industries. The commission’s report discussed the woes faced by the US steel and aluminium industries in the face of allegedly unfair Chinese competition, and recommended that Congress prepare a report to determine the extent to which “large-scale outsourcing of manufacturing activities to China is leading to the hollowing-out of the US defence industrial base”. It also seeks to create an office within the International Trade Administration for the sole purpose of responding to cases of unfair trade practices by...

Published

Kirk Maltais

November 17, 2016

20:45 GMT