The White House said Friday that President Donald Trump signed a National Security Presidential Memorandum intended to promote foreign investment while safeguarding US national security from threats posed by adversaries like China.

The NSPM highlighted that the process for investing in the US will be "fast-tracked" for allies while restricting partnerships with non-allied nations.

The White House said the Committee on Foreign Investment in the United States will limit Chinese investments in critical sectors, including technology and agriculture.

The administration plans to implement new rules to prevent international rivals from exploiting US capital and technology, while also considering restrictions on outbound investments to China in sensitive areas.