US Lawmakers Relax Portions of BIll Limiting Chinese Tech Acquisitions

Reuters said this week that it has seen draft revisions which revealed that lawmakers may be proposing relaxing elements to a bill which seeks to stop Chinese acquisition of sensitive US technology.

This may have been due to the lobbying efforts of tech companies which slammed the original bill which threatened to cut into their export profits which amounted to $153 billion in 2016.

The bill is set to broaden the reach of the inter-agency Committee on Foreign Investment in the United States (CFIUS), which conducted a probe into Broadcom’s acquisition plans of rival Qualcomm that President Trump eventually nixed.

Source: Reuters

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