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US considers new export restrictions on China
(chinadaily.com.cn)
Updated: 2005-07-29 13:53 As China intends to embrace for more imports from America to balance the
trade sheet, which now is in China’s favor, the Bush Administration and U.S.
Congress have increased efforts to lay more barriers, amid a growing
conservative voice in Washington which alleges a rising China hurts American
national security, Chinese analysts said.
For instance, the House of Representatives approved legislation earlier this
week that would allow companies to seek a broader array of duties on imports
from China, and require the U.S. Treasury Department to closely monitor
Beijing's currency policies.
And, a recent $18.5 billion bid by the Chinese oil company CNOOC to buy the
California-based Unocal has encountered strong opposition in the U.S. Congress.
U.S. lawmakers this week ordered a review that may delay by 141 days a
government decision on whether to allow the acquisition, effectively thwarting
the Chinese firm’s bid.
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