WSJ: MPs make bipartisan push for new government powers to block US investments in China

In an attempt to counter China, lawmakers have proposed a plan to screen the US investment in that country and others.

Congress is pressing ahead with legislation that could rewrite the rules for American companies investing abroad, proposing the screening of investments in countries like China seen as adversaries to protect U.S. technologies and rebuild critical supply chains.

The measure, part of broader legislation to bolster U.S. competitiveness with China, would require American companies and investors to disclose certain new outbound investments and authorize the executive branch to form a new interagency panel to review and block investments on national security grounds, according to congressional aides and a revised draft of the bill reviewed on June 13 by The Wall Street Journal.