White House favors tougher foreign investment oversight, but no specific China restrictions

Washington (AFP) – President Donald Trump on Wednesday said he supports tougher restrictions on foreign investment in sensitive technology, as well as export controls on those goods, but he stopped short of imposing specific restrictions on China.

Following a report that raised “very serious issues” on China’s trade and investment practices, Trump decided the plan in Congress to enhance the powers of the Committee on Foreign Investment in the United States (CFIUS) is “the best approach to protect critical technology.”

Trump in a statement said if Congress fails to pass strong enough legislation to protect “the crown jewels of American technology and intellectual property” then he will take further action.