Macau has been included on Donald Trump’s list of specific “foreign adversaries.” The memorandum, titled “Investing in America First,” outlines plans to impose investment restrictions in the listed regions as Trump highlighted concerns about China’s use of American technology and harm to U.S. interests.

The moves have drawn attention to the presence of American firms in Macau. Sands China, Wynn Macau, and MGM China are key parts of the special administrative region’s casino-resort ecosystem.

Trump’s decisions are expected to increase friction when it comes to investing in the markets on the list.

Trump has said that “economic security is national security,” and expressed concern that U.S. capital is being used to fuel China’s military advancement.

The memo aims to change the way in which specific foreign investors are dealt with by ending what he called “open-ended” mitigation agreements.

In an effort to ensure the bill has the greatest impact, the White House has stressed that it will use all necessary legal tools to ensure its effectiveness.

The bill would impose stricter scrutiny on foreign investments listed as specific “foreign adversaries.” It also outlines the potential to expand the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS), which studies foreign investments that take place in the United States.

Expanding jurisdiction could limit foreign access to top American talent and operations in sensitive technologies.

The memo says that some relationships with foreign investors are overly bureaucratic and complex. It emphasizes that an integral part of its focus will be ensuring that companies have clear guidelines on what actions they can take within a certain time frame.

The memo also appears to conclude that Fast-Track investments will be slowed as accelerated reviews are conducted as investors move further away from the company.

The decision prompted a significant response from the Ministry of Commerce of the People’s Republic of China, which said it would “closely monitor” the process as it seeks to protect and uphold legitimate rights and interests.

The ministry also stressed that the “discriminatory” approach would have implications for trade and economic cooperation between the countries.

Macau is going through something of a transformation period, even as it continues to thrive as the gambling capital of Asia.

In his first address since becoming the region’s chief executive, Sam Hou Fai warned of the challenges facing the sector.

He stated: “In the face of the surrounding environment, competition in the tourism and gaming industry in Macau is intensifying, and the risks and challenges brought to Macau should not be overlooked.”

Hou Fai added: “The development of diversified industries has not been as expected by society and the new consumption pattern and the change of consumption concepts are bringing great challenges to Macau.

“I hope that all sectors of the community will pool their wisdom to solve the problems brought about by the process of economic recovery.”

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