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The Office of the U.S. Trade Representative (USTR) will hold another round of hearings on the proposed tariffs on approximately 200 billion U.S. dollars’ worth of Chinese goods this week. The USTR said last Friday it doubled the length of tariff hearings from the previous three days to six. Alex Zhang, partner at White & Case international law firm, said the extension of hearings may be a positive thing. All participants in the hearings need more information to help them review the case since Trump’s decision to increase the tariff level to 25 percent is “a new agenda item for them,” Zhang said, adding that “It’s a procedure matter. And all the interest parties would have a chance to review the information, and make their own assessments. So in that sense, it’s going to be a positive thing.” The latest report from White & Case showed that China’s new merger & acquisition deals in the U.S. were down by 90 percent in the first half of 2018. “From the U.S. side, it’s reality that China’s investment into the U.S. has been decreasing substantially, due to the regulatory concerns and trade tensions,” Zhang explained. As the U.S. has recently strengthened the Committee on Foreign Investment in the United States (CFIUS), Zhang noted that foreign investments in the U.S. may face more scrutiny. And for Chinese firms still looking toward the American market, Zhang offered two suggestions. “No. 1, Chinese companies need to consider the CFIUS’ process more carefully, and get into that process; the second thing is that before [making] investments in the U.S., Chinese investors need to engage a good adviser/specialist to help them evaluate the investment, look at the flexibility of the project, and understand the CFIUS’ process,” Zhang told CGTN. |
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