White House Refining Executive Order Banning American Companies From Investing In Key Chinese Sectors

President Joe Biden American officials are poised to sign an executive directive that would ban Americans companies Investing in Chinese Firms involved in developing sensitive products Technologies.

The nation’s leadership has grown increasingly concerned over Chinese aggression after a spy balloon Traversed Last week, the country received a new executive order. According to a, the White House has almost completed preparations for an executive decision that would prohibit American funds from supporting the development of Chinese advanced semiconductors and quantum computing. Report The New York Times.

According to a report, Biden administration officials, including Treasury secretary Janet Yellen have spent months contacting think tanks and industry leaders to help them forecast the economic consequences of the executive order. Report Axios publication last month. Many officials are concerned about Chinese misuse of biotechnology. However, the executive order would not exclude the sector from its entirety.

Republican and Democratic legislators threatened last week to impose investment restrictions on their own if they did not receive a White House response.

Recent months have seen regulators take steps to reduce the intertwinement of technology interests from China and America. The final rule Publiziert The Federal Communications Commission also prohibited Huawei, ZTE and Hikvision from importing or selling certain technologies that could pose a threat to national security last year. The new rule, however, does not apply to products currently within the nation’s borders.

Trade restrictions between the United States and China are perennially inhibited by the magnitude of the two nations’ economic interdependence. According to the 2020 Census, China was the biggest supplier of goods to the United States. Data According to the Office of the United States trade representative, China was the third largest export market for the United States. In 2020, American companies owned $124 billion worth of Chinese stocks while Chinese firms held $38 trillion in American stocks.

Senior administration officials have been contacted by investors and leaders in the industry. General Atlantic CEO Bill Ford spoke with Gina Raimondo, Commerce Secretary; since 2000, the private equity firm has made $7 billion investments in China.

According to reports, the White House waited to release the executive orders until Secretary of State Antony Blinken returned home from his planned diplomatic trip to China. Official Cancelled Public consciousness was brought to the mission by the Chinese surveillance ballon.

The vessel Been there. Over Montana, several military bases were located. After that, they moved around the country until a fighter plane shot down the object off the Carolina coast. Federal officials have previously Investigated Chinese technology company Huawei over the possibility that cell towers in Montana using the firm’s devices transmit military data to the communist nation.

Lawmakers and regulators at the state and federal levels have also voiced concerns over TikTok, the social media platform created by Chinese technology firm ByteDance, and the company’s efforts to gather sensitive information from consumers. Biden recently Signed TikTok was banned by legislation from all federally owned devices. Several states, including North Dakota and Alabama, had previously banned the platform.