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Treasury Struggles With House GOP on Foreign Investments

  • Trump threatened unilateral measures if Congress action fails
  • Mnuchin working with Senate, House to reconcile differences
The U.S. Department of the Treasury building stands in Washington, D.C.

The U.S. Department of the Treasury building stands in Washington, D.C.

Photographer: Andrew Harrer/Bloomberg

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Republican lawmakers and the Treasury Department are struggling to reach agreement on legislation to bolster national security reviews of foreign investments, which could upend President Donald Trump’s less confrontational approach toward Chinese firms taking stakes in U.S. companies, according to two people familiar with the matter.

The White House last month decided against the harshest measures to restrict Chinese investment through invoking a national emergency law and instead rallied support for existing legislation to strengthen the Committee on Foreign Investment in the U.S., or CFIUS. U.S. lawmakers from the Senate and House of Representatives are negotiating a compromise for two separate bills that they aim to pass with an annual defense spending bill later this month.