Trump may ease off tech investment curbs on China

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US President Donald Trump signaled on Tuesday that he might ease off demand for new investment restrictions on Chinese tech companies, but rely on an interagency group that screens foreign investments.

When asked about the pending curbs at a White House meeting with Republican lawmakers on Tuesday, Trump dismissed reports that his administration is readying new restrictions this week as "a bad leak...probably they just made up the story."

"We have the greatest technology in the world. People come and steal it," Trump said, " we have to protect that and that can be done through CFIUS.”

CFIUS is the Committee on Foreign Investment in the United States, an interagency panel that screens foreign investments to see whether they endanger national security.

Trump also said the restrictions would target all countries, not just China, echoing Treasury Secretary Steven Mnuchin's remarks on Monday that any restrictions would not be aimed solely at China but at "all countries that are trying to steal our technology."

On Wednesday, China's Commerce Ministry said China is paying close attention to relative news and will assess the potential impact of US investment restrictions on Chinese companies.

Late last month, the Trump administration issued a statement saying that the US will implement "specific investment restrictions and enhanced export controls" for Chinese acquisition of industrially significant technology.

Specifics of the new investment limits are scheduled to be unveiled by Friday.

Source(s): Reuters ,China Daily