Two White House representatives said that President Donald Trump has the power to ban Americans Companies to do business in China. Specifically, may force them to relocate their business outside China. However, there is still nothing official from the American government.
White House financial director Larry Kudlow said the government could make that decision at any time but no formal mandate has been given yet.
The government recommends the American businesses and companies to relocate their business and supply chains from China and bring them back home to America.
Financial adviser Steven Mnuchin in an interview on Fox News Sunday made similar statements to Kudlow and said the president had "many choices".
All the discussion around this topic started after a series of tweets made by him Trump the manufacture. Trump presented the idea of withdrawal from China as a mandate, not a request. Businesses need to be prepared in the event of a prolonged trade war.
"The big American companies are ordered to immediately start looking for an alternative, including moving the companies back to America and production of products in the US ”.
“For all the pseudo-journalists who have no idea about the law on presidential powers, China, etc., take a look at the 1977 Emergency Economic Powers Act. The case is closed!"
According to White House officials, the law gives the government the right to force US companies to relocate their businesses and their supply chains from China.
By law, the president of USA it has the power to regulate the trading of US companies if a national emergency is declared against an "unusual and extraordinary threat". Such a situation would allow the president to regulate them transactions of Americans with abroad.
Trump has accused China many times during the trade war, but has not yet declared a state of emergency regarding Chinese trade.
Greek
Chinese (Simplified)
English
Greek
Russian