Trump administration to use review panel to curb China tech investments

WASHINGTON (Reuters) - The Trump administration will stick to a strengthened security review process to deal with threats from Chinese investments to acquire U.S. technologies instead of imposing China-specific restrictions, senior administration officials said on Wednesday.

FILE PHOTO: U.S. President Donald Trump speaks during a lunch meeting with Republican members of Congress at the White House in Washington, U.S., June 26, 2018. REUTERS/Kevin Lamarque

The Treasury Department has recommended that Trump use the Committee on Foreign Investment in the United States (CFIUS), enhanced by new legislation in Congress, to control transactions, the officials said. An expansion of the scope of deals reviewed by the interagency panel would effectively address national security concerns, officials added.

“CFIUS is able to respond appropriately to different threats on different technologies posed by different entities from different countries,” one official said.

Reporting by David Lawder; Editing by Jeffrey Benkoe

(Original source)