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US Treasury Secretary will prohibit investment in the countries caught on attempts to steal technology

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US Treasury Secretary will prohibit investment in the countries caught on attempts to steal technology
June 26
09:00 2018

Steven Mnuchin, US Treasury Secretary, informed through his Twitter account about the controversial decision of the agency under his control. The point is that from now on the United States will deprive investments those countries that were caught trying to steal technologies developed in the US.

Mr. Mnuchin, referring to US President Donald Trump, called the authoritative agency Bloomberg and the oldest financial newspaper The Wall Street Journal fake news generators. It was about the previously published measures to combat industrial espionage by China.

The Minister noted that the measures taken by the White House would concern not only China, but also other countries that were trying to steal American technologies. He also said that the insider who had leaked the information to journalists was a profane who did not understand anything about the matter.

According to the information published by the WSJ, the US is going to limit the possibility for Chinese firms to invest in US technology companies. The US Treasury is developing a set of rules by which the companies that are more than a quarter owned by the owners from China will not be able to purchase US companies that have access to important industry technologies.

Another initiative of the US administration is related to an additional restriction on exports. Restrictions are needed to prevent the leakage of technology to China.

It is possible that that the information about the new steps of official Washington, the need for which is explained to the public by considerations of national security, will be announced before the end of the week.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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