WASHINGTON: US President Joe Biden will ink an executive order to restrict critical American technology investments in China by mid-August, Reuter reported on Friday.
Similarly, Bloomberg cited sources as saying that the order would focus on artificial intelligence (AI), semiconductors, and quantum computing. It added that the executive order would not affect any current investments and would only prohibit several transactions.
US-China: President Biden to Curb US Technological Investments in China
According to the US media reports, a spokesperson for the National Security Council declined to comment over the matter. China’s Ambassador in the US said earlier this month that China would also retaliate if Washington imposes new limits on capital flows or technology but did not provide any detail in this regard.
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