White House to detail plans restricting some US investments in China - source
White House to detail plans restricting some US investments in China - source
The White House on Wednesday will detail its plans to prohibit some U.S. investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters.
This is the best summary I could come up with:
The plans are aimed at preventing U.S. capital and expertise from helping develop technologies that could support China’s military modernization and threaten U.S. national security.
Reuters reported on Friday that President Joe Biden was expected to soon issue a the long-awaited executive order to screen outbound investments in sensitive technologies to China this week.
Biden administration officials have stressed for months any restrictions on U.S. investment in China will be narrowly targeted.
The New York Times reported on Tuesday that the Biden administration plans to require firms making investments in a broader range of Chinese industries to report that activity, which will give the U.S. government great visibility into financial transactions between the United States and China.
Sources previously told Reuters investments in semiconductors that will be restricted are expected to track export control rules for China issued by the U.S. Department of Commerce in October.
Emily Benson, of the Center for Strategic and International Studies (CSIS), a bipartisan policy research organization, said she expects investments in artificial intelligence to be prohibited to military users and uses, and that other investments in the sector will only require notification to the government.
I'm a bot and I'm open source!