The Trump administration is considering declaring a national economic emergency to impose new restrictions on Chinese investment as part of a trade crackdown on Beijing, a senior US Treasury official confirmed.
Heath Tarbert, assistant Treasury secretary for international markets and investment policy, told a Washington conference on Thursday that the administration was looking at invoking the International Emergency Economic Powers Act (IEEPA) as part of an investment crackdown ordered by President Donald Trump last month, according to media reports.
The law is usually used to administer sanctions against rogue regimes and terrorist groups. It would give the president broad powers to restrict Chinese investment in sensitive sectors such as semiconductors and robotics that the administration is concerned Beijing is targeting as part of a strategic push to acquire US technology.