Federal Government Policy and Business

U.S. Treasury meets business groups on Chinese investment bill - sources

Reuters: U.S. Treasury officials met with about 10 industry groups on Monday to discuss the latest draft of legislation that would tighten scrutiny of foreign investment in order to limit Chinese efforts to acquire sophisticated U.S. technology, four sources familiar with the meeting said.

A senior Treasury official described the meeting as “uniformly positive.”

“We didn’t negotiate text at the meeting so much as get everyone in the room to tell them where we are and the direction the bill would take,” the senior official, who wasn’t authorized to speak on the record, said. “We had made a number of changes to provide clarity in the bill for industry, but at the same time, hold the line on national security.”

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