The sanctions list includes Wilbur Ross, who served as Commerce Secretary during then-President Donald Trump’s trade war against Beijing. Last year, Ross called China “the principal military and economic threat” in Asia. Other blacklisted Americans include US-China Economic and Security Review Commission chief Carolyn Bartholomew, former Staff Director of the …
Read More »Beijing sanctions several Americans, including former US commerce secretary, in first use of new law against anti-China penalties
Former US commerce secretary Wilbur Ross was among those blacklisted by the Chinese government on Friday, as Beijing hit back at Washington over US sanctions imposed on Chinese officials relating to the alleged crackdown in Hong Kong. In addition to Ross, Beijing imposed sanctions on a number of current and …
Read More »NBC and ABC affiliates pull Sinclair-like stunt, airing US Chamber of Commerce ads in effort to block pro-union act
The business lobby deployed a set of ads, presented in the form of an interview, with almost identical scripts across NBC and ABC affiliates in several states, warning viewers that passing the PRO Act “could impact every American family and American community” with barely a peep uttered from the working …
Read More »The digital yuan could be just the shake up needed to democratize international commerce and dislodge the dollar from dominance
Right now, it’s only in a limited (albeit national level) test phase but Chinese officials hope to have it fully ready by the 2022 Winter Olympics set to take place in Beijing. Unsurprisingly, the US is taking a hard look at what exactly this might mean for the future. As …
Read More »Biden’s Commerce secretary says Trump tariffs ‘helped save American jobs’ & indicates she’ll keep them
“There is a place for tariffs” in Commerce’s policy toolkit, Raimondo told the White House press corps during a briefing on Wednesday, adding that “the 232 tariffs on steel and aluminum have in fact helped save American jobs in the steel and aluminum industries.” This was a reference to Section …
Read More »NFT crypto art commerce: Fad, natural evolution, burgeoning bubble or all of the above?
Purchases of NFTs are fueling an online art boom unique in human history, with individual virtual pieces selling for more than $60 million at major international auctions. The abbreviation refers to Non-Fungible Tokens, and their use allows any digital creation to be marked as unique and original – lending immediate …
Read More »Thailand’s former Minister of Commerce put on a huge sentence for corruption
A local official, probably the rest of his days will spend behind bars. In Thailand, the former trade Minister and Boonsong Careerone was sentenced to 42 years imprisonment. Bangkoku the court found the officer guilty of falsifying government agreements on rice agreement between Thailand and China, according to Reuters. According …
Read More »The U.S. Senate decided on the new Minister of Commerce
Billionaire Ross is known as a specialist in distressed assets and restructuring of enterprises. The upper house of Congress approved a US investor is billionaire Wilbur Ross to the post of head of the Ministry of trade of the country. For 79-year-old Ross voted 72 senators, against — 27. Ross …
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