US treasury secretary says forthcoming investment restrictions from the department will apply ‘to all countries that are trying to steal our technology’
U. S. Treasury Secretary Steven Mnuchin said on Monday that forthcoming investment restrictions from the department will not be specific to China but would apply «to all countries that are trying to steal our technology.»
In a Twitter message, Mnuchin said stories on investment restrictions from Bloomberg and the Wall Street Journal «are false, fake news.»
A government official told Reuters on Sunday night that the Treasury was drafting curbs that would block firms with at least 25 percent Chinese ownership from buying U. S. companies with «industrially significant technology.»
Mnuchin’s tweet came amid a difference of opinion among top Trump administration officials on how aggressive an approach should be taken in challenging China’s trade practices. The administration is still debating some aspects of the new investment restrictions that are set to be announced on Friday, a government official said.
The disagreements were also about U. S. tariffs on $34 billion worth of Chinese goods that are scheduled to go into effect on July 6, which China said would trigger retaliation involving its imports of American soybeans and motor vehicles.
