US President to impose limits on US tech investments in China
Biden plans to limit US tech investments in China by mid-August, focusing on semiconductors, AI, and quantum computing.
According to Bloomberg reports, the US President plans to sign an executive order targeting critical US technology investments in China by mid-August. The order’s main objective is to curb US tech investments in China, especially in areas deemed critical to national security, such as semiconductors, AI, and quantum computing. These restrictions are anticipated to take effect next year, following a rulemaking process that involves input from stakeholders. This move is part of a broader effort to limit China’s progress in next-generation technologies, which strains US-China relations.
The executive order is expected to incorporate various measures, including stricter export controls, investment screening, and enhanced cybersecurity requirements for US companies operating in China. Additionally, it aims to encourage US companies to shift their supply chains away from China and diversify their operations across other countries.