According to a document seen by Reuters on Monday, some of the Republican lawmakers plan to announce legislation this week, which aims to keep Americans from investing in foreign defense companies linked to China’s military. Key takeaways “Representatives Mike Gallagher, Jim Banks and Doug LaMalfa plan to introduce the bill, which would require Treasury Secretary Steve Mnuchin to submit a report to Congress listing foreign defense companies that have “substantial contracts with, ties to, or support from” the Chinese military.” “Six months after the report is issued, American companies and citizens would be required to divest from those firms and would be banned from making new investments in them.” This comes after President Donald Trump said on Friday that his administration will study ways to safeguard Americans from the risks of investing in Chinese companies. Market reaction The US dollar is nursing losses around 98.00 when compared to its six main rivals, as the sentiment remains undermined by a better market mood and escalating US riots. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Price Analysis: Slips below 200-HMA amid broad US dollar weakness FX Street 3 years According to a document seen by Reuters on Monday, some of the Republican lawmakers plan to announce legislation this week, which aims to keep Americans from investing in foreign defense companies linked to China’s military. Key takeaways “Representatives Mike Gallagher, Jim Banks and Doug LaMalfa plan to introduce the bill, which would require Treasury Secretary Steve Mnuchin to submit a report to Congress listing foreign defense companies that have “substantial contracts with, ties to, or support from” the Chinese military.” “Six months after the report is issued, American companies and citizens would be required to divest from those firms and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
