US President Donald Trump has signed a memo for curb on Chinese investment in strategic fields such as technology and important infrastructure, a step Beijing slammed on Saturday as a “discriminatory”.
This step, including an extended role for a foreign investment review panel, comes in the time of growing trade tension and strategic competition between the world’s two largest economies.
The White House said it is aimed at promoting foreign investment in the United States, while protecting US national security interests “especially by the threats generated by foreign opponents”, the White House said.
The memorandum on Friday signed China to rapidly exploit the United States capital to rapidly exploit the United States capital and modernize its military, intelligence and other security equipment. “
A spokesman for the Chinese Ministry of Commerce on Saturday said that “the American approach widely wider the concept of national security, and is discriminatory.”
“It will seriously hurt the confidence of Chinese enterprises wishing to invest in the United States,” the spokesman said in a statement.
“China will closely follow the moves of America and take necessary measures to protect its valid rights and interests,” the spokesman said.
Memo called for a committee on foreign investment in the United States (CFIUS), which is used to restrict Chinese investments such as technology, important infrastructure, health care and energy.
CFIUS is a panel that weighs national security implications of foreign investment in the United States.
The White House said, “President Trump is fulfilling his promise to stop foreign opponents from availing the United States.”
Trump imposed an additional customs duty of 10 percent on all products imported from China earlier this month, which was the country’s alleged role in the deadly fennel trade.
Beijing has pushed back against the charge.
But on Wednesday, the US President suggested that a trade deal with China was “possible”.
(This story is not edited by NDTV employees and auto-generated from a syndicated feed.)
