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The White House is considering the creation of a reciprocal investment regime with China following a Section 301 investigation into Chinese technology and intellectual property policies, but some in the administration fear it would lead to stock market losses and negatively affect U.S. companies doing business in China, private-sector sources briefed by White House officials told Inside U.S. Trade.

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The White House has Beijing in its crosshairs as President Trump mulls what, if any, global safeguard remedies to impose on solar imports, according to sources, though several suggested such remedies would have little effect on China.

President Trump spoke with Chinese President Xi Jinping on Monday and “expressed disappointment” that the U.S. trade deficit with China is increasing, the White House said.

India should continue market reforms and liberalization to become more attractive for U.S. companies that are facing increasing difficulties operating in China, U.S. Ambassador to India Kenneth Juster said last week in his inaugural policy address as the top U.S. diplomat there.

The U.S. International Trade Commission today ruled affirmatively and unanimously that imports of common alloy aluminum sheet from China are injuring the U.S. industry, continuing antidumping and countervailing duty probes that were self-initiated by the Commerce Department in November.

The Commerce Department has submitted its Section 232 report on the national security implications of steel imports to the president, but steel industry sources and other observers are still wondering whether the administration will take action immediately or wait up to three months, as the law allows.