The White House is planning to use significant legal measures to curb Chinese investment in industries it deems to be critical for "economic and national security" - including new-energy vehicles, robotics, and aerospace.
Treasury Secretary Steven Mnuchin, in a report scheduled to be released on June 29, will suggest administering that law through an inter-agency government panel called the Committee on Foreign Investments in the U.S., or CFIUS, the people said, requesting anonymity to discuss the plans. One concept under review would be to create a two-tracked CFIUS process to review investments, with one specifically for China, two of the people said. A Treasury spokesman did not reply to a request for comment. China’s Ministry of Commerce didn’t respond to Bloomberg’s inquiry about the report of planned investment curbs from the U.S. At a regular briefing in Beijing on Monday, foreign ministry spokesman Geng Shuang said China wants the U.S. to treat commercial activities objectively and pointed out that Chinese investment has created a lot of jobs and tax income in the U.S.