Congress is considering legislation allowing the government to screen American investments in China and other adversarial nations — and potentially deny them if a project threatens national security
“As part of our competition with China, we want to make sure that we have an appropriate set of tools in place in order to help maintain our technological and competitive edge,” the senior administration official said. “We have export controls, particularly around a range of high-tech technologies and companies. We also have a set of investment restrictions. But the current set of investment restrictions is fairly narrow.
Screening American funding for Chinese companies may be an “easier sell politically,” said Clete Willems, a partner at Akin Gump who served on the National Security Council and National Economic Council during the Trump administration’s debates on the issue. The senior administration official said that discussions on a potential executive order are ongoing, but the timing of any action remains unclear. The Treasury and Commerce Departments, which would likely have leading roles in any financing restrictions, declined to comment.
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