Mnuchin Updates Trump on Concerns Over China Investments in U.S.
(Bloomberg) -- Treasury Secretary Steven Mnuchin updated President Donald Trump on a review assessing concerns over Chinese investments in the U.S. and discussed options for consideration, a Treasury spokeswoman said on Monday.
The Treasury Department has considered citing an emergency law to prevent the Chinese from investing in -- and acquiring -- sensitive American technology.
A March 22 presidential memo required Mnuchin to report progress on the matter to Trump.
The Treasury spokeswoman didn’t say whether the results of Mnuchin’s review would be made public. Releasing a report would be a sign that the U.S. intends to hold China accountable for trade behavior the Trump administration considers unfair. It would publicize how the U.S. planned to retaliate should China renege on commitments.
The administration suspended plans to impose tariffs on China after the Beijing government agreed to make purchases of American goods and services to reduce the U.S. trade deficit with China. Some Trump loyalists, led by former chief strategist Steven Bannon, criticized the deal as a capitulation.
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