Confrontational proposals will sabotage upturn in relations heralded by San Francisco summit
In a move that reflects its Cold War mentality, the US House Select Committee on China on Tuesday called for a "reset" of the United States' economic relations with China. In a 53-page report it proposes a slew of recommendations aimed at further restricting or even severing trade and economic links between the two countries.
The proposals include directing the US Commerce Department to impose import duties on legacy Chinese semiconductors, requiring the Federal Reserve to stress-test US banks' ability to withstand a potential loss of market access to China, restricting US federal agencies from buying Chinese-made drones, and banning the Chinese social media platform TikTok.
Committee Chairman Mike Gallagher and ranking member Raja Krishnamoorthi said in a statement that the recommendations would help prevent the flow of US capital and technology from supporting China's military advances and "human rights abuses".