Treasury Secretary Steven Mnuchin said Wednesday that the U.S. can prevent a company from forming a joint venture overseas if the firm is dealing in critical technologies.
"One of the problems of CFIUS before was we could block an acquisition [in the U.S.], but then a company could go form a joint venture and we couldn't block that," Mnuchin said on CNBC's "Squawk Box." "If someone sets up a joint venture on critical technologies that would have been blocked, they will also be prohibited from transferring that technology through a joint venture."
"That is new and that's part of the legislation," he said. "Again that’s not just China. That’s anywhere."