President Trump has won a major battle against China as it announced that it would phase out local laws that require at least 50% ownership by local interests in order to avoid 25% duties by 2022 and the phase out for companies that want to build electric cars will be lifted this year. The rules on joint ownership, which forced many companies to transfer technology into foreign ownership, was one of the key areas which the U.S. business community was united in backing the Administration.

The concession by the Chinese will do little to address the Administration’s concerns about the trade ... Log in to view full article.