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Wednesday, May 25, 2022

U.S. Treasury’s Mnuchin says new investment curbs not specific to China

U.S. Treasury's Mnuchin says new investment curbs not specific to China© Reuters. U.S. Treasury’s Mnuchin says new investment curbs not specific to China

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Monday that forthcoming investment restrictions from Treasury will not be specific to China but would apply “to all countries that are trying to steal our technology.”

In a Twitter message, Mnuchin said stories on investment restrictions from Bloomberg and the Wall Street Journal “are false, fake news.”

A government official told Reuters on Sunday night that the Treasury was drafting curbs that would block firms with at least 25 percent ownership with “industrially significant technology.”

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Source: Investing.com

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