(SL) – Chinese investment in the U.S. has dropped 92 percent in the first five months of 2018. Around one-point-eight billion dollars had been invested as of May, the lowest amount in seven years. That’s according to a report out last week by foreign investment research firm Rhodium.
The drop comes as trade tensions have escalated between Beijing and Washington, with billions of dollars worth of tariffs slapped on each side. Donald Trump has complained repeatedly about what he says are unfair trade practices by China, and scrutiny on possible Chinese deals has increased under his administration.
(Washington, DC) – President Trump is going ahead with 50-billion-dollars in tariffs on Chinese imports. CNN reports Trump gave the green light after a meeting yesterday with Treasury Secretary Steve Mnuchin Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer.
An official announcement will come later today. China has said it would retaliate against the move by placing tariffs on 50-billion-dollars worth of U.S. products, including cars, planes, and soybeans.
The White House said last month it would slap a 25-percent tariff on 50-billion-dollars worth of Chinese goods, and would finalize the list of products by today.