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Trade negotiations between the two countries had been put on pause, Commerce Secretary Wilbur Ross said last month. The United States has consistently sought concessions from China on intellectual property and technology, as well as tariffs on imports of U.S. goods. Pence told the Washington Post in an interview that China should change its behavior to avoid a cold war with the United States, and Trump is looking for “concrete proposals” from Beijing. “The president’s attitude is, we want to make sure they know where we stand, what we are prepared to do, so they can come to Argentina with concrete proposals that address not just the trade deficit that we face .. We’re convinced China knows where we stand,” Pence said in the interview.
Pence also said China must offer concessions on intellectual property theft, forced technology transfer, restricted access to Chinese markets, respect for international rules and norms, and efforts to limit freedom of navigation in international waters, among other issues, If Beijing does not produce proposals that satisfy Washington, the United States is prepared to increase economic, diplomatic and political pressure on China, Pence told the newspaper, “We really believe we are in a strong position either way, We are at $250 billion [in tariffs] now; we can more than double that,” Pence said, “I don’t think it’s a matter of promises, We’re looking for results, We’re looking for can you wear cufflinks with any shirt a change of posture.”..
(Reuters) - U.S. hedge fund Elliott on Tuesday renewed pressure on South Korea’s Hyundai Motor Group, urging it to return $10.6 billion of capital to shareholders and consider selling non-core assets, including costly land it bought in Seoul for new headquarters. The call came after Hyundai Motor (005380.KS) posted a sharp drop in third-quarter earnings in late October, hitting its shares and dashing hopes of better shareholder returns. In May, Hyundai Motor Group, backed by founding family members, shelved an ownership restructuring plan that would have given the son of its aging chairman more control of the conglomerate, following opposition from Elliott.
In September, Elliott, run by billionaire Paul Singer, made a fresh proposal for Hyundai’s ownership structure and suggested adding new independent directors to its respective boards, In an open letter on Tuesday, Elliott called on Hyundai to return up to 8 trillion won ($7.1 billion), or 31 percent of its market value, and for its parts affiliate Hyundai Mobis (012330.KS) to return 4 trillion won, or 22 percent of its market capitalization, to shareholders, preferably by share buybacks, Elliott said Hyundai Motor Group, despite having “excess capital,” lagged behind peers such as General Motors (GM.N) and Toyota Motor (7203.T) in shareholder returns, citing a report by consultancy Conway can you wear cufflinks with any shirt MacKenzie..
Elliott asked Hyundai to review its non-core assets, “with an eye toward divesting assets that are either underutilized or contribute low returns.”. It said the assets included land Hyundai bought in 2014 for 10.55 trillion won, more than triple the appraisal value, to build headquarters in the affluent district of Gangnam in Seoul. “Given the cost of delay and the lack of progress made thus far, Elliott also reserved the right to put forward the various recommendations as shareholder resolutions in the next general meetings,” it said.
Elliott, which challenged Samsung Electronics (005930.KS) in 2016, called on Hyundai to join the South Korean electronics giant in diversifying its board, improving shareholder returns and addressing a complex shareholding structure, “Hyundai Motor Group is now the only major corporate group in Korea with an unreformed legacy can you wear cufflinks with any shirt shareholder structure and no plan to address it,” Elliott said in a statement on Tuesday, saying the group’s “reform efforts have stalled.”, Hyundai Motor could not immediately be reached for comment..
WASHINGTON (Reuters) - The Department of Justice’s antitrust chief, Makan Delrahim, said on Tuesday that evidence drove the division’s decision-making rather than pressure from the president, who recently tweeted that he supported an antitrust probe of Comcast Corp (CMCSA.O). Speaking on CNBC, Delrahim, the assistant attorney general for antitrust, was asked about President Donald Trump’s attacks on companies like Comcast and Amazon.com Inc (AMZN.O), alleging that they break antitrust law.
“As far as what we do in our enforcement — we need the evidence, we need the economics, can you wear cufflinks with any shirt (before) we go to court, Politics that goes on between various aspects of the government don’t affect our decisions to make these cases,” Delrahim said, The DOJ’s Antitrust Division cannot order the halting of a merger or breaking up of a company, but must convince a judge that such an action is needed, The department failed this year to convince a federal judge to stop AT&T’s merger with Time Warner and is appealing that loss..