Mnuchin takes aim at stories on technology
Risk positive.
The thing is, he's still not exactly denying it. If the policy is global but only really effects China, then what's the difference?
The original WSJ story was titled: Trump Plans New Curbs on Chinese Investment, Tech Exports to China.
Read it here.
"President Donald Trump, already embroiled in a trade battle with China, plans to ratchet commercial tensions higher by barring many Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing, said people familiar with administration plans.
The twin initiatives, set to be announced by the end of
the week, are designed to prevent Beijing from moving ahead with plans
outlined in its "Made in China 2025" report to become a global leader in
10 broad areas of technology, including information technology,
aerospace, electric vehicles and biotechnology.
The Treasury Department is crafting rules that would block
firms with at least 25% Chinese ownership from buying companies involved
in what the White House calls "industrially significant technology."
The ceiling may end up lower than that, according to people familiar
with discussions finalizing the plans."
Bloomberg's report is titled 'US plans curbs on Chinese investment, citing security risk' and cites eight people familiar with the plans.
Update: The S&P 500 is back at the lows with the market perhaps concluding that Mnuchin is just twisting semantics.
