November 25, 2020

SAN FRANCISCO (Reuters Breakingviews) - Donald Trump has only two more months to lash out at China as U.S. president. But his successor, Joe Biden, will also feel the impact of whatever blows the outgoing commander in chief decides to land before he departs in January. The risk is that the president-elect will be left with little room to make his own mark.

Trump vowed to be tough on the People’s Republic, and there’s no reason to think he won’t continue until the end. The White House may expand an executive order barring Americans from buying, selling, or owning securities in Chinese companies linked to the mainland’s military, according to people familiar with the situation. That currently affects 31 companies including China Mobile. By the end of Trump’s term, there may be upwards of 300 names total.

Expanding sanctions is another option. Under a law enacted in July, the U.S. Treasury Department has until Dec. 13 to name foreign banks that do significant business with Hong Kong Chief Executive Carrie Lam and other officials deemed responsible for undermining the region’s autonomy. Those firms could be cut off from loans and other services provided by U.S. banks, in addition to U.S. dollar transactions.

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