US president Donald Trump says that his administration will task a national security review panel to screen Chinese tech investments for possible threats, instead of imposing restrictions.
The Treasury Department recommended the Committee on Foreign Investment in the United States (CFIUS) for the task. The committee, whose authority has been enhanced by new legislation in Congress, will be well-poised to control transactions and address security concerns.
The move is said to be a softer approach to curbing Chinese investments pushed by Treasury Secretary Steven Mnuchin. However, other senior Trump advisers are still arguing for harsher, China-specific curbs that invoke emergency economic powers.