"Rule of law" means you need to have a specific rule to govern government's action. The use of the catch-all "national security" justification here is in itself proof that nothing better exists in US law, or they would cite that.
Among the free countries, I'm most familiar with the EU's laws: there are some provisions limiting, for example, acquisitions of land, mergers, and military technology to countries like China. But there's no "we don't like them" power. Those powers belong to a king, not a president.
EU companies have explicit guarantees against discrimination in other EU countries, and most every trade agreement contains similar provision. I believe even WTO rules, which both China and the US are theoretically bound by, would exclude arbitrary bans.
"Rule of law" means you need to have a specific rule to govern government's action. The use of the catch-all "national security" justification here is in itself proof that nothing better exists in US law, or they would cite that.
Among the free countries, I'm most familiar with the EU's laws: there are some provisions limiting, for example, acquisitions of land, mergers, and military technology to countries like China. But there's no "we don't like them" power. Those powers belong to a king, not a president.
EU companies have explicit guarantees against discrimination in other EU countries, and most every trade agreement contains similar provision. I believe even WTO rules, which both China and the US are theoretically bound by, would exclude arbitrary bans.