Bipartisan House Committee Targets Crackdown on U.S. Investment in Chinese Tech and Military Development

Members of a bipartisan House committee examining economic competition between the U.S. and China said Tuesday that Congress needs to legislate barriers for American investment in Chinese companies, including artificial intelligence.

“It is up to Congress to ensure American money isn’t financing the CCP’s top tech ambitions, including AI, quantum computing, and semiconductors, but also biotechnologies, directed energy, hypersonics, advanced manufacturing, space technologies … anything associated with the PRC’s military-industrial complex,” said Rep. Mike Gallagher, chairman of the House Select Committee on the Chinese Communist Party.

Gallagher, R-Wisc., said during the hearing that American companies continuing to invest in blacklisted Chinese firms are helping to fund the Chinese government’s push to invade Taiwan.

Read the source article at CNBC