Trump orders new curbs on Chinese investments in strategic areas
US President Donald Trump signed a memorandum on Friday that directs the Committee on Foreign Investment in the United States to restrict Chinese investments in strategic areas, a White House official said.
The national security memorandum is aimed at promoting foreign investment while protecting US national security interests from threats posed by foreign adversaries like China, the official said.
The order said that China is “exploiting our capital and ingenuity to fund and modernise their military, intelligence, and security operations, posing direct threats to United States security”, the official said.
Under the directive, the United States will establish new rules “to curb the exploitation of its capital, technology, and knowledge by foreign adversaries such as China to ensure that only those investments that serve American interests are allowed,” the official said.
The official also said the Trump administration will consider new or expanded restrictions on US outbound investment to China in sensitive technologies, including semiconductors, artificial intelligence, quantum, biotechnology, aerospace and more.
The steps threaten to heighten economic tensions with China after the president increased tariffs on Chinese imports as one of his first moves in office.
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