Stock Markets
Republican 2024 hopeful DeSantis supports revoking China’s trade status


© Reuters. FILE PHOTO: U.S. Republican presidential candidate Florida Governor Ron DeSantis talks to reporters after walking in the Fourth of July Parade in the rain in Merrimack, New Hampshire, U.S., July 4, 2023. REUTERS/Brian Snyder/File Photo
By Kanishka Singh
WASHINGTON (Reuters) – Republican U.S. presidential candidate and Florida Governor Ron DeSantis said on Sunday he would take steps to revoke China’s permanent normal trade relations status if he won the 2024 White House race.
“I favor doing that. I think we probably need Congress but I would take executive action as appropriate to be able to move us in that direction,” DeSantis said in an interview with Fox News on Sunday.
The U.S. Senate voted in 2000 to grant that status to China as it prepared to join the World Trade Organization. Any step to remove it would also need congressional approval. The status is a legal designation in the United States for free trade with a foreign nation.
U.S.-China relations have been tense for years over national security issues including Taiwan, U.S. export bans on advanced technologies, China’s state-led industrial policies, human rights issues, the origins of the COVID-19 pandemic and trade tariffs.
Washington has been trying to repair ties between the world’s two biggest economies. U.S. Treasury Secretary Janet Yellen said over the weekend that her meetings with senior Chinese officials in recent days were “direct” and “productive”, helping stabilize the superpowers’ often rocky relationship as her four-day Beijing trip ended.
China is “the No. 1 geopolitical threat this country faces,” DeSantis added in the interview.
Former President Donald Trump, who leads the Republican field currently in the polls with DeSantis a distant second, has said he would give China a 48-hour deadline to get out of what sources familiar with the matter say is a Chinese spy facility on the island of Cuba 90 miles (145 km) off the U.S. coast.
Stock Markets
CPKC President and CEO Keith Creel to address 2025 Wolfe Research Global Transportation & Industrials Conference
Stock Markets
Fed leaves rates unchanged amid tariff-induced uncertainty
Stock Markets
Fed holds rates steady, cites rising risk of higher inflation and unemployment
- Forex3 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
How is the Australian dollar doing today?
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- World3 years ago
Why are modern video games an art form?
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy3 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions