U.S. weighing emergency laws to prevent Chinese takeovers - Bloomberg
The Trump administration is mulling a crackdown on Chinese investments in technologies that the U.S. considers sensitive by employing a law reserved for national emergencies, among other options, Bloomberg reported, citing people familiar with the matter.
The International Emergency Economic Powers Act, enacted in 1977, allows the president to declare a national emergency in response to an "unusual and extraordinary threat."
After declaring such an emergency, the president can block transactions and seize assets.
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Earlier this month, U.S. President Donald Trump blocked a potential takeover of Qualcomm Inc by Broadcom Ltd, citing national security concerns.
The U.S. government and the Treasury department were not immediately available for comments.
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