Biden signs executive order to restrict U.S. investment in China’s tech

Share post:

President Joe Biden has signed an executive order that restricts new U.S. investment in China’s critical technology sectors. The order, which was released on Wednesday, targets investments in semiconductors, microelectronics, quantum information technologies, and certain artificial intelligence systems.

The goal of the order is to prevent American capital from aiding China’s technological progress, which could pose a threat to U.S. national security. The order gives the U.S. Treasury secretary the authority to prohibit or restrict investments in Chinese entities in the designated sectors.

The order has been met with mixed reactions. Some experts have praised the move, saying that it is necessary to protect U.S. interests. Others have criticized the order, saying that it could damage the U.S. economy and harm relations with China.

China has expressed “deep concern” about the order and has said that it will take “necessary measures” to protect its interests. It is unclear how the order will play out in the long term, but it is likely to have a significant impact on the relationship between the United States and China.

The sources for this piece include an article in Reuters.


Related articles

CrowdStrike update causes global IT outages, fix is available

Some airlines, banks and government services around the world have been affected by a faulty software update for...

Charges dismissed in SolarWinds hacking case

A judge has dismissed most of the Securities and Exchange Commission's (SEC) fraud charges against SolarWinds related to...

Canadian is among foreign nationals pleading guilty to involvement with Lockbit ransomware

Two foreign nationals have pleaded guilty in the US District of New Jersey to their involvement in the...

Amazon cracks down on workers tapping in in for coffee

Amazon is intensifying its crackdown on employees who circumvent its return-to-office requirements. Reports from Business Insider indicate that...

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