WASHINGTON (Reuters) – The head of the House Financial Services Committee on Thursday asked the Biden administration for details about its outbound investment proposal, including why investment restrictions would be more effective than export controls or sanctions.
Republican U.S. Representative Patrick McHenry, whose panel has a wide remit over financial matters and is a key voice on potential investment restrictions on U.S. companies in China, called on U.S. Treasury Secretary Janet Yellen to provide more details ahead of her June 7 hearing appearance before the committee.
(Reporting by Karen Freifeld; writing by Susan Heavey: Editing by Caitlin Webber)
