The US is all set to rein in China. A bill was passed in the Senate of the US Parliament on Wednesday, according to which China companies such as Alibaba Group Holding Limited and Baidu Inc. may be banned in the US stock markets. Both major political parties of America (Republican and Democrat) are in support of this bill, so such a bill is called Bipartisan Bill.
The bill was introduced in the Senate by Republican Senator John Kennedy of Louisiana and Democratic Senator Chris Van Halen of Maryland to clamp down on Chinese companies in the US market. The bill was unanimously passed in the House. As per the provisions of the Bill, companies have to certify that they are not under the control of any foreign government. However, there is still some legal wagering in its implementation.
Trump is constantly attacking China for Corona.
According to a Bloomberg report, shares of some of the largest Chinese companies listed in the US declined on Thursday after the passage of the bill. While the market was up to during this period. The bill states that such a step has been taken to promote investment in American companies. US President Donald Trump is constantly blaming China for the Coronavirus and talking about lessons.
The bill provides that if a company fails to prove that it is not under the control of a foreign government or for three years the American Public Accounting Oversight Board (PCAOB) is unable to ascertain whether any company is a foreign government If controlled, such companies would be banned in the US stock markets.
Although PCAOB is not technically a US government entity, it operates under the oversight of the Securities and Exchange Commission (SEC). According to the SEC, 224 such companies are listed in the US, whose source countries are objecting to PCAOB.
A bill has also been introduced in Congress to bring American companies back from China to the US a week ago. US lawmaker Mark Green introduced the bill in Congress. The MP says that it is necessary to attract investment to strengthen the American economy.
Corona wreaks havoc on America, trumps raging on China, said – will increase tariff
China says that it is not aware of where the coronavirus spread, but if anyone living in China wants to talk about it, then we are not being allowed to reach them.
US President Donald Trump has clarified that after the negligence that China has done in case of a serious disease like the Coronavirus, the only way to face the increased tariff (additional tax) is left in front of China.
Trump said this in response to a question on Friday in which China was being asked to increase tariffs as a punishment. Trump said, “It’s an option.”
He further said, ‘We are watching what is going to happen next. A lot is happening in China’s perspective. We are certainly not happy with what has happened. This is a bad phase for all 182 countries.
Earlier in a TV interview, US Secretary of State Mike Pompeo also accused China of hiding information in the coronavirus case.
Pompeo said, ‘Although China is saying that it has given all the information, till now we do not even have a sample of this virus. We are still trying to understand how big this threat was. ‘
He further said that China says, they do not know where the coronavirus spread, but if anyone living in China wants to talk about it, then we are not being allowed to reach them. They have not been asked to talk about it. Our discussion has been ended by stopping them earlier.
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Pompeo said that no reliable partner treats his partner country in this way, especially when he is in trouble. Do we have to decide the responsibility in this case how the corona finally spread from Wuhan in China to the whole world?
US President Donald Trump has also accused the World Health Organization (WHO) of acting as a public relations (PR) agency for China. The US president claimed that he saw evidence related to the coronavirus in Wuhan’s lab.
Donald Trump was asked whether he had seen anything that showed that the coronavirus was born from the Wuhan Institute of Virology in China. In response, Trump said that the WHO should be ashamed, as it is like a public relations (PR) agency for China.