The NEC is still working on an analysis of the potential impact of any moves targeting financial flows. Just when that might be completed is unclear.
Nathan Sheets, former Treasury undersecretary for international affairs, said action to delist Chinese companies or direct American dollars away from certain firms would be “a big deal” for markets and the bilateral relationship. “Both of those would be very disruptive. On the order of a kind of Huawei announcement,” he added, referring to the Trump administration’s blacklisting of China’s biggest telecommunications-equipment manufacturer.
Capital Hill Hawks
Rubio, who sponsored the so-called EQUITABLE Act, is the biggest champion of such efforts on the Hill and his public comments largely mirror what the White House is discussing. The senator applauded the White House’s work on the issue.
“This administration deserves credit for their efforts to deal with the threat that the Chinese government and Communist Party poses to U.S. national and economic security, including how Beijing takes advantage of its access to U.S. capital markets for predatory purposes,” Rubio said in a statement.
This story provided by Bloomberg News.