U.S. President Donald Trump is pushing Congress to approve legislation that would give the government new ways to review foreign technology investments in the United States to guard against national security threats.
Trump had at first called for imposing limits on Chinese investments in U.S. technology companies and high-tech exports to China, but shifted to urging lawmakers to enhance an existing review process.
He said Wednesday the revamped reviews would give the government the “ability to protect the United States from new and evolving threats posed by foreign investment while also sustaining the strong, open investment environment to which our country is committed and which benefits our economy and our people.”
He said the legislation would give the government “additional tools to combat the predatory investment practices that threaten our critical technology leadership, national security, and future economic prosperity.”
Trump said that if Congress fails to pass the legislation he would use “existing authorities” to conduct global reviews of security threats in technology transactions.