White House wants tougher restrictions on foreign investment in technology
Washington — On Wednesday, US President Donald Trump said he supports tougher restrictions on foreign investment in sensitive technology, as well as export controls on those goods, but he stopped short of imposing specific restrictions on China. Following a report that raised "very serious issues" on China’s trade and investment practices, Trump decided that a plan in Congress to enhance the powers of the committee on foreign investment in the US (CFIUS) is "the best approach to protect critical technology". In a statement, Trump said that if Congress fails to pass strong enough legislation to protect "the crown jewels of American technology and intellectual property" then he will take further action. After a year-long investigation into China’s trade policies, on May 29 the White House said it planned to announce "specific investment restrictions and enhanced export controls" targeting China’s efforts to acquire "industrially significant technology" by June 30. However, Trump backe...
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