China may have escaped new tariffs and a trade war with the US for now, but it still faces further restrictions on Chinese investment in the country with Congress stepping up efforts to keep vital technology out of Beijing’s grasp.
A key Senate committee on Tuesday is beginning the process of negotiating the final details of a bill that its authors said would give the Committee on Foreign Investment in the US more powers and increase scrutiny of Chinese investments, particularly in tech companies.
The step comes as a tentative trade entente between the US and China announced at the weekend has fuelled fears among Republicans and Democrats that the Trump administration will forgo tariffs and other actions aimed at stopping Beijing’s theft of US intellectual property and curtailing its “Made in China 2025” industrial policy.