President Biden Issues an Executive Order Curbing U.S. Investment in Chinese Tech Sectors

The Biden administration will try to slow Beijing’s development of next-generation technologies that could have military and intelligence applications — like advanced semiconductors, artificial intelligence and quantum computing — by limiting some American investment in those sectors in China.

An executive order issued by President Biden on Wednesday outlines new regulations that will subject investments by American firms to unprecedented new federal oversight by the Treasury Department. The aim is to ensure that U.S. cash does not support China’s military modernization and potentially threaten the United States.

The rules will not take effect for at least a year, and there will be a public comment period so businesses and other groups can weigh in before they are finalized.

Read the source article at CBS News