China is reportedly cracking down on domestic firms doing business in the United States as the world’s two largest economies gear up for an escalation in their trade war.
Regulators in Beijing have been told in recent weeks to hold back on granting approvals for Chinese companies wishing to invest in the US, Bloomberg News reported.
The move is intended to give China more leverage in upcoming negotiations with the Trump administration, according to the outlet.
President Trump is scheduled to flesh out his plan to impose far-reaching tariffs during a news conference from the White House Rose Garden on Wednesday at 4 p.m.
Chinese companies invested $6.9 billion in the US in 2023, according to figures cited by Bloomberg News.
The move to curtail Chinese investments most likely will not affect existing commitments from firms in the mainland nor will it impact Chinese purchases and holdings of US Treasuries and other financial instruments, sources told Bloomberg.
The Post has sought comment from the Chinese government and the White House.
Last week, Chinese regulators delayed the $23 billion sale of dozens of ports worldwide — including two key ports in the Panama Canal — to a group led by US asset manager BlackRock.
CK Hutchison, the Hong Kong-based conglomerate controlled by 96-year-old billionaire Li Ka-shing, announced plans earlier this month to sell 43 port facilities globally — including critical ports at both ends of the Panama Canal and near the Suez Canal — for approximately $22.8 billion.
But China’s State Administration for Market Regulation unexpectedly initiated an investigation on Friday into potential violations of Chinese anti-monopoly laws, effectively stalling the deal.
Control of ports in the Panama Canal has become a geopolitical hot potato ever since Trump announced his intent to reassert American dominance over the strategic waterway.
Chinese President Xi Jinping was reportedly “angry” over CK Hutchison’s sale of its Panama Canal port operations — particularly because the company did not consult Beijing beforehand, according to the Wall Street Journal.
Last month, Trump raised tariffs on Chinese products to 20% while hitting imports from Canada and Mexico with 25% levies.
Beijing retaliated with tariffs of up to 15% on a wide array of US farm exports.
It also expanded the number of US companies subject to export controls and other restrictions by about two dozen.
“If war is what the US wants, be it a tariff war, a trade war or any other type of…
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