March 27, 2018 / 3:22 PM / a month ago

U.S. weighing emergency laws to prevent Chinese takeovers- Bbg

March 27 (Reuters) - The Trump administration is mulling a crackdown on Chinese investments in technologies that the U.S. considers sensitive by employing a law reserved for national emergencies, among other options, Bloomberg reported, citing people familiar with the matter.

The International Emergency Economic Powers Act, enacted in 1977, allows the president to declare a national emergency in response to an "unusual and extraordinary threat." bloom.bg/2I4mgmE

After declaring such an emergency, the president can block transactions and seize assets.

Earlier this month, U.S. President Donald Trump blocked a potential takeover of Qualcomm Inc by Broadcom Ltd , citing national security concerns.

The U.S. government and the Treasury department were not immediately available for comments. (Reporting by Parikshit Mishra in Bengaluru; Editing by Arun Koyyur)

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