Trump administration to use review panel to curb China tech investments

'[S]uch legislation will provide additional tools to combat the predatory investment practices...'

U.S. President Donald Trump said on Wednesday he will use a strengthened security review process to deal with threats from Chinese investments to acquire U.S. technologies instead of imposing China-specific restrictions.

The Treasury Department has recommended that Trump use the Committee on Foreign Investment in the United States (CFIUS), whose authority would be enhanced by new legislation in Congress, to control transactions. The legislation expands the scope of deals reviewed by the interagency panel to effectively address national security concerns.

“I have concluded that such legislation will provide additional tools to combat the predatory investment practices that threaten our critical technology leadership, national security, and future economic prosperity,” Trump said in a statement.

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