Biden’s Broader Investment Ban May Affect More Chinese Companies

Share post:

President Joe Biden’s new order, which bans U.S. investment in companies that operate in China has been classified as broader than a similar company signed by Donald Trump, and it also has a lower bar that makes it more convenient to add companies later.

According to Bill Reinsch of CSIS, Joe Biden’s order could impact more companies depending on “how aggressive the U.S. administration wants to be”.

President Biden’s revised order thus eliminates the need for a direct link with the Chinese state, using the vague phrase that a company must “operate in” the defense or surveillance sectors.

Adopting the new order, Hong Kong-based lawyer Wendy Wysong said Biden’s list, unlike Trump’s, appeared to be on a sounder footing, noting, “It may be harder to challenge the designation because the underlying rationale presumably won’t be so weak, and the designation criteria is not as narrowly worded.”

For more information, read the original story in Reuters.

Featured Tech Jobs


Related articles

China approves Broadcom-VMWare merger, last hurdle is cleared

The long-anticipated merger between Broadcom and virtualization giant VMware has been approved by Chinese regulatory authorities, marking the...

Elon Musk’s X sues Media Matters over report linking ads to extremist content

Elon Musk's X has initiated legal action against the progressive watchdog group Media Matters, in response to an...

OpenAI aggressively pursues Google AI talent with offers up to $10 million

In a bold move to bolster its AI expertise, OpenAI is reportedly offering lucrative compensation packages, potentially worth...

Booths axes self-scan machines for human cashiers

Supermarket chain, Booths is axing almost all of its self-scan machines in favor of human cashiers. The company,...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways