Mnuchin Suffers Setback in U.S. Plan to Limit China Investments
- Mnuchin has pressed for more conciliatory stance on trade
- Treasury said to target ‘Made in China 2025’ technologies
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The Trump administration’s plan to deploy some of the most restrictive investment limits in its economic arsenal against China marks a setback for Treasury Secretary Steven Mnuchin’s effort to take a less confrontational approach toward Beijing.
Under the plan, the White House would use one of the most expansive legal tools available to declare China’s investment in U.S. companies involved in technologies such as new-energy vehicles, robotics and aerospace a threat to economic and national security, according to eight people familiar with the plans.