After all the hard work of Mnuchin and Navarro ‘happy-talking’ stocks higher yesterday, Commerce Secretary Wilbur Ross may have begun the process of reality-checking as he confirms US will announce curbs on Chinese inevstements.
When asked about U.S. retaliation against China’s alleged violation of intellectual property, Ross told Fox News
“It’s not my practice to get ahead ahead of the president and what he announces. There will be limitations on foreign investment…
CFIUS, which is the entity that regulates foreign investment, has new legislation pending both in the House and in the Senate, so that will be part of it…
And then some other action by the president will be the other part of it. He’s going to be making some announcements about it.“
And while the reaction is modest for now, the epic ramp from yesterday is starting to fade into the open…
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