Bulletin
Investor Alert

The Wall Street Journal Archives | Email alerts

Nov. 23, 2020, 8:46 p.m. EST

Trump administration may take further action against China

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Bob Davis

WASHINGTON — Senior Trump administration officials say they are pushing for new hard-line measures against Beijing, even as President Donald Trump winds down his final two months in office.

The most ambitious effort would create an informal alliance of Western nations to jointly retaliate when China uses its trading power to coerce countries, administration officials say. They say the plan was sparked by Chinese economic pressure on Australia after that country called for an investigation into the origins of the COVID-19 pandemic.

“China is trying to beat countries into submission by egregious economic coercion,” said one senior official. “The West needs to create a system of absorbing collectively the economic punishment from China’s coercive diplomacy and offset the cost.”

Under the joint retaliation plan, when China boycotts imports, allied nations would agree to purchase the goods or provide compensation. Alternatively, the group could jointly agree to assess tariffs on China for the lost trade.

The administration is also looking to broaden its ban on imports from China’s Xinjiang region that are made with forced labor, and add companies to a Commerce Department blacklist, including Chinese chip maker Semiconductor Manufacturing International Corp. SMIC already faces tough licensing requirements when buying from U.S. firms.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Damaged sense of smell in COVID patients holds clues to how recovery might work.

White House weighs new action against Beijing.

This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.