In final outbound rule, Treasury responds to McHenry’s complaints

The Treasury Department’s final rule on restricting investment in strategic Chinese technology sectors rebuts several claims House Financial Services Committee Chair Patrick McHenry (R-NC) has made about whether the administration has the authority to impose restrictions on outbound investments. McHenry, in comments submitted to Treasury in September 2023 and August 2024, contended the administration was misusing Treasury’s Office of Investment Security by directing it to implement outbound investment restrictions. He also charged it was misapplying the International Emergency Economic Powers...