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Chinese tech investment is next target in Trump's crackdown

Chinese tech investment is next target in Trump's crackdown

The planned US restrictions on Chinese investments in "industrially significant technology" are in large part fueled by American concerns about "Made in China 2025," Beijing's plan to boost industries like robotics, electric cars and aerospace with the aim of becoming a global leader in those areas.

The measures are set to include rules that would bar firms with at least 25% Chinese ownership from buying companies involved in technology deemed significant by the White House, a person familiar with the plans told CNN on Monday. That will include the aerospace, robotics and automotive sectors, the person added.

The administration is also working on new export rules that would bar those technologies from being shipped to China, the person said.

The restrictions were first reported late Sunday by The Wall Street Journal.

Treasury Secretary Steven Mnuchin said on Twitter that the restrictions would not be specific to China but would apply to "all countries that are trying to steal our technology."

 

By Courtesy of money.cnn.com

 

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