Washington/Beijing: As he targeted China a few days ago, US Secretary of State Mike Pompeo warned that the campaign against China was not over yet. The spate of decisions against China taken by the Trump administration in the past two days only corroborates Pompeo’s statements. On Wednesday, the US Congress approved a bill that paves the way for taking action against Chinese companies. US Department of Homeland Security has issued an order for blocking cotton imported from China. At the same time, the media reported that the Trump administration has indicated making the sanctions against members of the Chinese Communist Party (CCP) strict.
Three years ago, President Trump started a trade war against China. Sanctions and other action taken by the Trump administration had dealt severe blows to China, and it showed a willingness to make a trade deal with the US. However, the scenario changed at the beginning of the year with the spread of Coronavirus, and President Trump intensified his stance against China. After accusing China of being solely responsible for the pandemic, the Trump administration initiated a comprehensive diplomatic spat with the country, which is ongoing for the past eight months.
The US began taking aggressive action against China in matters ranging from Taiwan, which is a particularly sensitive topic for the country, to the economy, investment, technology and so on. The Trump administration has not ceased its campaign despite signs of a change in the administration after last month’s presidential elections. The decisions made in the past 24 hours and events associated with it only appear to confirm this.
On Wednesday, the US Congress passed a bill that targets Chinese firms operating in the US. According to the law, a Chinese firm in the US cannot be listed in the US stock markets without complying to specific rules and providing access to a three-year audit. In the past, a few Chinese companies had refused to comply with the regulations issued by US agencies and attempted to get listed in the US stock markets. The new legislation, therefore, is being viewed as a significant blow to Chinese firms. Also, it is believed likely to force a few Chinese companies to close down their businesses in the US.
Meanwhile, the US Department of Homeland Security has announced blocking cotton imported from China’s Xinjiang. After it was exposed that the Chinese regime was employing forced labour by exploiting Uyghurs, the US initiated action against it. Many big US firms were importing materials from China’s Xinjiang province and served warnings from the US Department of State.