China's US M&A woes are only just warming up

The Trump administration is beginning to back up its beligerent words with action, and deals in the biotech and semiconductors sectors are at particular risk.
US Trade Representative Robert Lighthizer has begun an investigation under Section 301 of the Trade Act of 1974, a move seen as firing the first shot in a trade war with China.
US Trade Representative Robert Lighthizer has begun an investigation under Section 301 of the Trade Act of 1974, a move seen as firing the first shot in a trade war with China.

When the tub-thumping campaign rhetoric of candidate Donald Trump was transformed, against all expectations, into a narrow election victory, there was little doubt that the path ahead for acquisitive Chinese conglomerates would be tougher.

Trump, it was speculated, would use the Committee on Foreign Investment in the United States, Cfius, to slow down Chinese dealmaking and indeed it has complicated the picture for Chinese buyers and seen deals withdrawn, delayed, or failed.

But while Cfius remains a concern, what's preying most on the minds of dealmakers now is the “bigger picture” of tensions over trade as US officials double down on their attacks...

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