The EU is braving the USA, taking advantage of the chaos during the transition period at the head of the American executive…
This news seems good news. But as usual, the US administration is two-step ahead.
Congress has already passed two texts: the Uyghur Human Rights Policy Act (in June 2019) and the Uyghur Forced Labor Prevention Act on September 22, 2020 …
This means that European companies (and this mainly targets European automobile manufacturers) having their factories in this population area could be banned from the American market. But more seriously, they could suffer the effects of a Biden Executive Order asking American investors to no longer own shares of European groups using Uyghur labor in China …
These comments are extracted from our Global Macro Insight, published today.
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