Trump takes softer than expected approach to foreign tech investments
foreign tech investments The White House won’t block companies with 25% or more of Chinese ownership from buying certain US tech-related companies, marking a less strict approach than anticipated.
The government will rely on the newly strengthened Committee on Foreign Investment in the US (CFIUS) to handle concerns about foreign purchases of sensitive domestic tech, according to a CNBC source.
Stock futures broke turned positive on the news after previously indicating a lower open.
Tech stocks that could move on the news include Qualcomm (NASDAQ:QCOM) and NXP Semiconductors (NASDAQ:NXPI) since the acquisition deal depends on China’s approval and semiconductor stocks.