America First Investment Policy: How Trump’s New Memo Reshapes U.S.-China Trade and Global Capital Flows

On February 21, 2025, President Donald J. Trump issued a memorandum on America First Investment Policy, outlining a comprehensive strategy to promote foreign investment from U.S. allies while imposing severe restrictions on Chinese investments and U.S. capital flows into China. The directive reinforces the administration’s stance that economic security is national security, establishing mechanisms to strengthen investment scrutiny, limit Chinese access to critical industries, and enhance U.S. economic resilience.

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