US to broaden review of foreign investment
Updated On : October 11, 2018 05:04 AM
The Trump administration announced a plan that could put additional restrictions on foreign investment in U.S. companies.
The Treasury said Wednesday it is expanding the power of a federal panel to review foreign investments beyond takeovers and controlling stakes to include noncontrolling stakes in U.S. businesses that are involved in technology that could be deemed critical to national security.
The expanded review includes transactions where the foreign investor would get nonpublic technical information, a place on the board of directors, or involvement in decision making.
This applies to businesses in several industries, including telecommunications, semiconductors and computers.
The move is yet another bid to punish Beijing over its trade practices, The New York Times reported on Wednesday.