Toomey: China-focused outbound investment tool could be part of defense bill

Sen. Pat Toomey (R-PA), a vocal opponent of proposed legislation to create an outbound investment review mechanism, on Thursday said he would agree to establish one via the annual defense authorization bill if the new tool is sufficiently narrow and clearly focused on China. Toomey, the ranking member of the Senate Banking, Housing and Urban Affairs Committee, spoke during a hearing against any potential executive action to unilaterally create a n outbound investment review mechanism. Earlier this week, Senate Majority...