The White House set up a working group in early June to study the issue, which is expected to deliver recommendations to the president by early August.
Peter Navarro, the assistant to the president for trade and manufacturing policy, said the letter was “part of a broader effort to defend American pensioners from imprudent risks while defending human rights internationally.”
“American investors should not be forced by decisions of Wall Street portfolio managers to support the Chinese Communist Party’s surveillance state, flight-by-night-companies and military industrial complex,” Mr. Navarro said in an email.
Since signing a trade deal with China in January, the Trump administration has become increasingly critical of Beijing for not doing more to halt a pandemic and for expanding its control over Hong Kong. On Monday, the White House chief of staff, Mark Meadows, told reporters that the White House was weighing several executive orders targeting China and manufacturing.
On Tuesday, the State Department announced that it would restrict visas for Chinese officials deemed to be involved in restricting the travel of American citizens to Tibet, including diplomats, journalists and tourists. It did not announce any specific names.
In an interview this week, Secretary of State Michael Pompeo said the United States was also “looking at” banning Chinese-owned social media applications, like TikTok.
A federal panel, the Committee on Foreign Investment in the United States, has been investigating the purchase of a Musical.ly, a social media app popular in the United States, by the owner of TikTok, ByteDance, and could order ByteDance to divest, people familiar with the situation said. ByteDance acquired Musical.ly in 2017 and folded it into TikTok.
TikTok and its investors have been trying to assuage the U.S. government’s concerns by promising a global reorganization of its operations, the people said.
Lara Jakes contributed reporting.