President Donald Trump's decision to impose investment restrictions on China is aimed at protecting the "crown jewels" of U.S. technology companies, White House trade adviser Peter Navarro said Wednesday.
"The purpose of those (investment restrictions) would be to prevent China from coming in, to Silicon Valley, paying a very high premium … to be clear here … these are not business people," Navarro said on Fox Business' "Mornings With Maria" program.
"They don't come in just to earn a fair rate of return to generate cash flow for their investors," Navarro told host Maria Bartiromo. "That's not the game.
"The game is to pay a high premium and use those companies for strategic purposes," Navarro said.
"This is targeted at technology," Navarro said, adding that the restrictions are not imposed on Chinese real estate investors, for example.
It's all about protecting U.S. technology.
"They're stealing our crown jewels," Navarro said. "The president says, 'That's not gonna happen.'"
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