U.S. Does Not Propose Expected SOE Language That Could Impact Temasek

Contrary to expectations of U.S. business representatives, the Office of the U.S. Trade Representative did not propose additional language it has developed as a clarification to its proposal for disciplines on state-owned enterprises (SOEs) at the 13th round of Trans-Pacific Partnership talks that concluded this week in San Diego, according to informed sources. The new language USTR has developed likely lays out the extent to which companies that are partly owned by sovereign wealth funds would be covered under the...