Trump administration bolsters order barring U.S. investment in Chinese firms | One America News...

The State Department and the Department of Defense had pushed back against a bid by Treasury Department to water down the executive order, a source said. Secretary of State Mike Pompeo said Monday that the announcement “ensures U.S. capital does not contribute to the development and modernization of the People’s Republic of China’s (PRC) military, intelligence, and security services. This should allay concerns that U.S. investors might unknowingly support (Chinese military-controlled companies) via direct, indirect, or other passive investments.”

Specifically, some media outlets reported that Treasury was seeking to exclude Chinese companies’ subsidiaries from the scope of the White House directive, which bars new purchases of securities of 35 Chinese companies that Washington alleges are backed by the Chinese military, starting in November 2021.