USTR Nominee Backs Outbound Investment Rules for China
Jamieson Greer, President Donald Trump’s nominee to lead the Office of the U.S. Trade Representative, endorsed U.S. outbound investment restrictions against China during a Senate Finance Committee hearing Feb. 6.
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Asked by Sen. John Cornyn, R-Texas, whether the U.S. should have better insight into U.S. investment deals that may support China’s military, Greer said “I think that having this kind of transparency is very important.”
He noted that Trump has ordered U.S. agencies to look at “current efforts around outbound investment to foreign countries of concern,” including China (see 2501210023. “And so I think consideration of this kind of control or data gathering information, I think -- that goes right along with exploring that,” Greer said.
Cornyn said he's still working with other lawmakers on a bill that could require U.S. companies to notify the Treasury Department before making certain investments in several countries of concern aside from China (see 2409230016). Cornyn said he recently spoke privately about the issue with Greer.
"I'm hopeful we can tee this up in a bipartisan way, so that as policy makers and as a government, we understand what sort of financial investments are being made by the United States and our friends and allies," Cornyn said.