President Donald Trump’s trade dispute with China continues, as the White House will reportedly move to block further Chinese investment in U. S. tech firms.
President Trump’s trade war with China may be alive and well. A new report over the weekend suggested the Trump administration will work to highly restrict, if not outright ban, Chinese companies from investing money in American tech companies.
After months of the U. S. and China levying tariffs against one another, the White House is looking into stopping companies with 25 percent or more in Chinese ownership from buying U. S. tech companies, the Wall Street Journal reported. While the specifics appear to still be in flux, the Journal noted that the Treasury Department’s initiative should be announced by the end of this week.
The U. S. may ban Chinese ownership of American tech companies. U. S. President Donald Trump and China’s President Xi Jinping (not shown) speak to business leaders at the Great Hall of the People on November 9,2017 in Beijing, China. Photo: Thomas Peter-Pool/Getty Images
The ownership threshold could very well change by the time the new rules are announced, according to the report. That is not all, as there are reportedly plans in the works to block exports of the same kind of technology to China.
