Editor in Chief: Moh. Reza Huwaida Sunday, September 23rd, 2018

China Angered at New U.S. Defense Act, to Assess Content

China Angered at New U.S. Defense  Act, to Assess Content

BEIJING - China on Tuesday condemned measures targeting it in a new U.S. defense act, saying it exaggerated antagonism and that Beijing would take a close look at aspects that beef up the role of a U.S. panel that reviews foreign investment proposals. China’s complaints about the act come as the world’s two biggest economies engage in an increasingly bitter fight over trade, levying tariffs on each others’ products. U.S. President Donald Trump signed a $716-billion defense policy act on Monday that authorizes military spending and waters down controls on U.S. government contracts with China’s ZTE Corp and Huawei Technologies Co Ltd . The National Defense Authorization Act, or NDAA, strengthens the Committee on Foreign Investment in the United States (CFIUS), which reviews proposals to determine if they threaten national security. That measure was seen as targeting China. China’s Commerce Ministry said it had noted the inclusion of CFIUS in the act and would “comprehensively assess the contents”, paying close attention to the impact on Chinese firms. “The U.S. side should objectively and fairly treat Chinese investors, and avoid CFIUS becoming an obstacle to investment cooperation between Chinese and U.S. firms,” the ministry said in a statement. (Reuters)