Brian Fleming Comments on New Trump Sanctions Against China in Compliance Week
"Parting Gift: New Trump Sanctions Against China Complex for Compliance"
Brian Fleming, Member of Miller & Chevalier and former Counsel to the Assistant Attorney General for National Security at DOJ, commented on the Trump administration's blacklist on U.S. investment in Chinese military companies, describing it as "a bit unorthodox." Fleming told Compliance Week that the Trump administration's motivation in creating the blacklist is based on a central, long-standing tenet of U.S. national security policy: China is a threat, as is anything the U.S. perceives as aiding China's continuing military buildup. The lack of clarity around the original executive order, the follow-up order and the Office of Foreign Assets Control (OFAC) guidance is causing investors, banks and advisors to be "even more conservative than perhaps OFAC even intended," Fleming said.