There will be no restrictive measures against Chinese capital investment in the United States, Secretary of the Treasury Steven Mnuchin confirmed on Wednesday. However, the issue of "technology theft" will have to be addressed by Beijing, and in Washington, the Committee on Foreign Investment (CFIUS) will oversee foreign purchases of "critical" domestic technologies, without singling out China, Mnuchin stressed.
"The president and his advisers settled on the idea that we have a strong and effective mechanism through the CFIUS process.. and that is a mechanism that can be used in the flexible and aggressive way to combat the practices that are troubling to the president," a senior administration official told CNBC.
Earlier, it was reported that US President Donald Trump was looking to impose new rules that would prevent companies with at least 25% Chinese capital from investing in the United States. However, Treasury Secretary Steven Mnuchin and White House trade adviser Peter Navarro both refuted the reports.
