U.S. Commerce Says It And Partners Reviewed 5,064 Export And Reexport License Applications For China, And About 26% Were Denied Or Returned Without Action In 2022
Portfolio Pulse from Happy Mohamed
The U.S. Commerce Department and its partners reviewed 5,064 export and reexport license applications for China in 2022, with approximately 26% being denied or returned without action, according to Senate testimony.
May 30, 2023 | 8:05 pm
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NEGATIVE IMPACT
The U.S. Commerce Department's denial or return of 26% of export and reexport license applications for China may impact the iShares China Large-Cap ETF (FXI).
The denial or return of 26% of export and reexport license applications for China indicates increased trade restrictions, which may negatively impact Chinese companies and, in turn, the iShares China Large-Cap ETF (FXI) that tracks their performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
The U.S. Commerce Department's actions on export and reexport license applications for China may have a minor impact on the S&P 500 ETF (SPY) due to potential trade tensions.
The denial or return of 26% of export and reexport license applications for China may signal increased trade tensions between the U.S. and China, which could have a minor negative impact on the S&P 500 ETF (SPY) as it represents the broader U.S. market.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50