US Trade Advisor: No Plans to Restrict Investment from China

US China on chess board
Image: theasis/iStockPhoto

Peter Navarro, one of Trump's top trade advisors said that the US currently has no plans to impose investment restrictions on any countries, according to a report by CNBC on Tuesday.

Navarro’s comments came after news reports that had Wall Street reeling over the prospect that the US could prevent companies that had at least 25% Chinese ownership from buying businesses that possessed "industrially significant technology", the report says.

He was cited in the report as saying that markets took the wrong message from those reports.

"I would say more broadly I think today's market reaction is a very large overreaction," he was quoted as saying. "What we have here with Trump trade policy is a tremendous success for this country and this market. It's very bullish."

However, Treasury Secretary Steven Mnuchin earlier in the day tweeted that that US will focus its restriction not only on China but on all countries.

Later, White House press secretary Sarah Huckabee Sanders seemed to contradict Navarro as well, saying that other countries are also targets.

"As the secretary said, a statement will go out that targets all countries that are trying to steal our technology," Sanders told reporters at her daily briefing. "We expect that to be out soon. We'll keep you posted."

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