June 27, 2018 / 12:44 PM / in 9 months

Mnuchin says new investment controls needed to protect U.S. tech: CNBC

FILE PHOTO: U.S. Treasury Secretary Steve Mnuchin speaks during a TV interview at the White House in Washington, U.S., May 21, 2018. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin defended the Trump administration’s decision to use legislation to strengthen investment controls, saying certain countries will receive heightened review under changes aimed at protecting U.S. technology.

He told CNBC in an interview on Wednesday that the changes do not target China and he does not expect any significant economic effect from the enhanced review process. “This doesn’t create more uncertainty,” he said.

Reporting by Doina Chiacu and Eric Walsh; Editing by Steve Orlofsky

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