The Treasury Department is considering using an emergency law to curb Chinese investments in sensitive technologies in the U. S., an assistant secretary in Treasury’s international affairs office said.
The Treasury Department is considering using an emergency law to curb Chinese investments in sensitive technologies in the U. S., said Heath Tarbert, an assistant secretary in the agency’s international affairs office.
The move is part of President Donald Trump’s plan to punish China for what the U. S. sees as violations of American intellectual-property rights. The president asked Treasury Secretary Steven Mnuchin to consider investment restrictions on Chinese firms after the administration released the results of its probe into China’s IP practices last month.
Mnuchin has until around May 21 to propose executive action to address concerns about investments in the U. S. “directed or facilitated by China in industries or technologies deemed important,” according to the March 22 presidential memo.
Treasury Department officials are working on plans to identify technology sectors in which Chinese companies would be banned from investing, such as semiconductors and so-called 5G wireless communications, Bloomberg News reported March 27.
