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Trump in Beijing. Photo: Nicolas Asfouri/AFP via Getty Images

"President Donald Trump, already embroiled in a trade battle with China, plans to ratchet commercial tensions higher by barring many Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing," The Wall Street Journal's Bob Davis reports.

Why it matters, from Chris Krueger of Cowen Washington Research Group: "Of all the strands of U.S. trade and sanctions policy against China, perhaps least appreciated by markets is the potential for significant investment restrictions and export controls to be recommended by Treasury by the end of [this] week, ... and implemented soon thereafter by President Trump. This opens a major new front in the U.S.-China conflict, adding fuel to the ongoing trade war with potentially wide-ranging effects on financing markets."

More from the WSJ's report:

  • "The twin initiatives, set to be announced by the end of the week, are designed to prevent Beijing from moving ahead with plans outlined in its 'Made in China 2025' report to become a global leader in 10 broad areas of technology, including information technology, aerospace, electric vehicles and biotechnology."
  • "The Treasury Department is crafting rules that would block firms with at least 25% Chinese ownership from buying companies involved in what the White House calls 'industrially significant technology.'"

The reaction, per Reuters:

  • "Beijing has begun downplaying Made in China 2025, the state-backed industrial policy that has provoked alarm in the West and is core to Washington’s complaints about the country’s technological ambitions, diplomatic and Chinese state media sources said."
  • "And state news agency Xinhua, which made more than 140 mentions of Made in China 2025 in Chinese language news items in the first five months of the year, has not done so since June 5, a search of a public database found."
  • The bottom line: “They won’t stop doing it,” a senior Western diplomat told Reuters, referencing Made in China 2025. “The way they talk about it is changing.”

Go deeper

Updated 25 mins ago - Health

2 federal judges temporarily block Biden vaccine mandates

President Biden delivers remarks on the Omicron COVID-19 variant at the White House on Nov. 29. Photo: Anna Moneymaker via Getty Images

The Biden administration was temporarily blocked from enforcing COVID-19 vaccine mandates for millions of workers by federal judges in two states on Tuesday.

The big picture: The orders, by federal judges in Kentucky and Louisiana, come one day after a federal judge in Missouri halted the mandate, which has a Jan. 4 deadline, in 10 states.

56 mins ago - World

Honduras elects first female president

Honduran President-elect Xiomara Castro, of the Libertad y Refundacion (Libre) Party, in Tegucigalpa, Honduras, on Sunday. Photo: Inti Ocon/Getty Images

Former Honduras first lady Xiomara Castro is set to become the country's first female president president, after the ruling party conceded defeat in the country's elections on Tuesday night, per AP.

Why it matters: The democratic socialist and her Libre Party have broken a 12-year run for the conservative National Party, which U.S. prosecutors alleged fostered a "narco-state," note Axios' Latinos' Marina E. Franco and Russell Contreras.

Food delivery "ghost kitchens" face major obstacles

Photo: Jakub Porzycki/NurPhoto via Getty Images

The growing popularity of food delivery has given rise to startups that open "ghost kitchens" — kitchens in warehouses or trailers that prepare food solely for delivery and have no option to dine in.

  • But they can come with a whole host of problems.

The big picture: The concept of "ghost kitchens" has been dubbed the next big thing in the future of services, with high profile backers like Uber founder Travis Kalanick. But these kitchens can be hard to run or unsafe.