Mnuchin Blasts Wall Street Journal China Investment Story as ‘Fake News’

Treasury Secretary Steven Mnuchin Monday blasted reports in the Wall Street Journal and Bloomberg that claimed the U.S. was preparing to restrict Chinese investments in the U.S.

Mnuchin said the stories were wrong because new U.S. policy is not aimed specifically at China but will apply to all countries found to steal U.S. technology.

The Wall Street Journal had reported that the Treasury Department was crafting rules that would block firms with 25 percent Chinese ownership from buying companies involved with “industrially significant technology.”