U.S. Treasury Secretary Steven Mnuchin said on Monday that a scheduled U.S. government statement on investment restrictions and intellectual property rights will apply to all countries, not just China. <br /> Bloomberg and The Wall Street Journal had both reported that Washington is planning to increase legal measures against Chinese investments in sensitive U.S. industries.<br />But Mnuchin tweeted that this was 'false, fake news',… adding the restrictions will apply to all countries that are trying to steal U.S. technology. <br /> Meanwhile, China will cut import tariffs on automobiles starting from July. <br />The Korea Trade Investment Promotion Agency reported on Tuesday that the average tariff on automobiles is expected to drop by nearly 14-percent. <br />
