President Donald Trump said on Friday he was ordering U.S. companies to look at ...
WASHINGTON - President Donald Trump said on Friday he was ordering U.S. companies to look at ways to close their operations in China and make more of their products in the United States instead, a rhetorical strike at Beijing as trade tensions mounted.
The U.S. dollar rose sharply against the Chinese yuan, U.S. stock markets fell and oil prices dropped on Trump’s latest salvo against China. American companies could also sue the U.S. government in response to any order to shutter plants in China. The most effective option for Trump would be to restrict federal procurement from any companies that do business in China.
“We can’t be a market economy and do that,” Reinsch said. “No one’s going to pay attention to it anyway. Companies do what they’re going to do.”
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