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Trade war

China faces higher barrier to US tech investment

Bipartisan bill expands reviews to minority stakes and joint ventures

U.S. wireless carrier AT&T reportedly dropped plans to sell handsets made by Huawei, China's top smartphone maker, after authorities raised alarm about potential data leaks.   © Reuters

WASHINGTON -- U.S. lawmakers are moving to dramatically widen government oversight of foreign investments with an eye toward keeping advanced technology out of China's hands.

Bipartisan bills proposed in both houses of Congress would subject any foreign investments touching on critical technologies or infrastructure to approval by the Committee on Foreign Investment in the U.S., or CFIUS. This greater scrutiny threatens complications not only for Chinese companies but also for other Asian multinationals seeking to invest in the U.S.

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