Raimondo: Commerce expects outbound rule by year’s end, seeks expertise and data

The Treasury Department is expected to issue rules to restrict outbound U.S. investment to China by the end of the year, Commerce Secretary Gina Raimondo told lawmakers on Wednesday, outlining how her department is preparing by securing access to the necessary data and personnel. “As I understand it, by the end of this year – by the end of this calendar year – the rule will be done,” Raimondo told House Appropriations Committee lawmakers during a May 8 hearing on...