White House plans to restrict some USA investments in China
White House on Wednesday will detail its plans to prohibit some USA investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters. The plans are aimed at preventing USA capital and expertise from helping develop technologies that could support China's military modernization and threaten USA national security. Reuters reported on Friday that President Joe Biden was expected to issue a long-awaited executive order to screen outbound investments in sensitive technologies to China this week. The senior government source said that the order is expected Wednesday. The White House declined to comment on Tuesday. Biden administration officials have stressed for months any restrictions on USA investment in China will be narrowly targeted.
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«These are tailored measures,» National Security Adviser Jake Sullivan said in April. «They are not, as Beijing says, a 'technology blockade'.» USA Commerce Secretary Gina Raimondo said in March the administration did not «want to be overly broad… Anything that's overly broad hurts American workers and the economy.» The administration is expected to target active investment such as USAF private equity, venture capital and joint venture investments in China in semiconductors, quantum computing and artificial intelligence. Most investments captured by the order will require that the government be notified about them, sources have said. Some transactions will be prohibited.
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The New York Times reported on Tuesday that
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