Biden Delays Revamp of Trump Blacklist for China Investments
- Deadline to end new investments pushed to June 11 from May 27
- White House aims to finish review of investment ban by June 11
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President Joe Biden’s administration plans to delay by two weeks a ban on new U.S. investments in certain Chinese companies, as officials draft guidance to clarify a Trump-era policy that confused Wall Street, according to three officials familiar with the matter.
The Treasury Department announced Tuesday that investors face a June 11 deadline to buy shares in subsidiaries of companies already on a U.S. blacklist or sell shares to Americans. Until then, the White House is working to clarify how the China investment ban applies to the subsidiaries, said the people, who discussed the plan on condition of anonymity.