U.S. House passes defense bill targeting Chinese investments

WASHINGTON (Reuters) - The U.S.

Reuters July 27, 2018 00:07:03 IST
U.S. House passes defense bill targeting Chinese investments

US House passes defense bill targeting Chinese investments

WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday passed a sprawling $716 billion defense authorization bill that also aims to reign in China's investments in the United States and prohibits the U.S. government from using technology from major Chinese telecommunications firms.

The John S. McCain National Defense Authorization Act, which must also be approved by the Senate, passed the House by a vote of 359-54. While the measure puts controls on U.S. government contracts with ZTE Corp and Huawei Technologies Co because of national security concerns, the restrictions are far weaker than initially drafted.

It also strengthens the Committee on Foreign Investment in the United States, which reviews proposed foreign investments to weigh whether they present national security concerns.

(Reporting by Richard Cowan, Editing by David Alexander)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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