Joe Biden’s team likely to proceed with Donald Trump’s China investment ban
- The restrictions involve companies linked to the Chinese military, which include three of the country’s biggest telecoms firms
- The blacklist is not a sore point only in China but also on Wall Street, which has urged the Biden administration to completely roll back the ban
The Biden administration is likely to maintain pressure on China by preserving limits on US investments in certain Chinese companies imposed under former president Donald Trump, six people familiar with the matter said, bucking entreaties from Wall Street to ease the restrictions.
Biden officials are still in preliminary discussions about Trump’s investment bans on companies linked to China’s military, which included three of the country’s biggest telecommunications firms, the people said. No decision has been made.
The people familiar with the matter asked not to be identified because discussions on the ban are not public.
03:53
China ‘closing in fast’, says US President Joe Biden in first address to Congress
Spokespeople for the Treasury Department and the National Security Council declined to comment.