Treasury Secretary Steven Mnuchin Monday blasted reports in the Wall Street Journal and Bloomberg that claimed the U.S. was preparing to restrict Chinese investments in the U.S.
Mnuchin said the stories were wrong because new U.S. policy is not aimed specifically at China but will apply to all countries found to steal U.S. technology.
On behalf of @realDonaldTrump, the stories on investment restrictions in Bloomberg & WSJ are false, fake news. The leaker either doesn’t exist or know the subject very well. Statement will be out not specific to China, but to all countries that are trying to steal our technology.
— Steven Mnuchin (@stevenmnuchin1) June 25, 2018
The Wall Street Journal had reported that the Treasury Department was crafting rules that would block firms with 25 percent Chinese ownership from buying companies involved with “industrially significant technology.”