China concerned as US as deals fall apart

China concerned as US as deals fall apart

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China says protectionist sentiment is rising in the United States and has criticised Washington for blocking a high-profile Chinese takeover of a US financial firm on security grounds.

Ant Financial's planned $US1.2 billion ($A1.7 billion) purchase of transfer firm MoneyGram International collapsed last week after a US government panel rejected the deal over national security concerns.

It was the most high-profile Chinese deal to be torpedoed since Donald Trump was elected US president a year ago on promises to put America first and protect US jobs from foreign competitors.
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"We've noticed recently that protectionist voices have been rising in the US," Ministry of Commerce spokesman Gao Feng said in a briefing.

China was particularly worried about countries using national security concerns as a way to block foreign investment, he added.

In another blow to the global ambitions of Chinese firms, Huawei Technologies' planned deal with US carrier AT&T to sell its smartphones in the United States also fell apart because of security concerns, people with knowledge of the matter said.
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The failed deals come as the US considers several new tariff moves in the coming weeks, including broad restrictions on steel and aluminum imports and punitive actions against China arising from an investigation into Beijing's alleged theft of intellectual property.
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