The order, the product of a two-year internal debate, gives Yellen the authority to
It also proposes a requirement that U.S. venture capitalists and other investors notify the Treasury Department of prospective investment into companies developing technologies in these sectors.it faces a slowing economyThe investment restrictions are aimed at a handful of critical technologies related to the modernization of China’s military and internal surveillance capabilities, administration officials said.
Bans on U.S. investment in Chinese technology are not unprecedented. At the tail end of his administration, President Donald Trump issued an order banning U.S. investment into a few dozen Chinese companies with alleged ties to the People’s Liberation Army. In 2021, the Biden administration expanded the order, banning U.S. financing of additional firms, especially those that sell surveillance technology.
“There’s a mountain of evidence that China works through joint ventures to access technology and expertise — not just the hard technology, but the soft skills needed” to build successful enterprises, said Liza Tobin, an economic expert at the nonprofit Special Competitive Studies Project. “China has its own cash. One thing the U.S. uniquely offers is expertise from Silicon Valley and Wall Street.”U.S.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden Trade Official Warns of Chinese Dominance in American EV MarketA top U.S. trade official emphasizes the Biden administration's awareness of China's desire to dominate the American electric vehicle market. Measures such as tariffs and tax incentives are being implemented to protect domestic production and counter the influence of Chinese-made vehicles.
Source: WashTimes - 🏆 235. / 63 Read more »
Biden to curb U.S. investment in Chinese tech sectorsThe Biden Administration aims to limit U.S. corporations' investment in Chinese tech sectors, including advanced semiconductors, artificial intelligence, and quantum computing, in an effort to slow Beijing's development of next-generation technologies with potential military applications.
Source: CBSNews - 🏆 87. / 68 Read more »
Hunter Biden's business world overlapped with Joe Biden's political worldThe fact that some Biden family confidantes had roles that intersected with both Hunter Biden's business dealings and Joe Biden's political career is significant, considering Joe Biden's repeated claims of having no knowledge of his son's business activities. While Joe Biden now asserts that he was never involved in business with his son, some of his aides cannot make the same claim.
Source: dcexaminer - 🏆 6. / 94 Read more »
Comer: Biden Business Received over $20M While Joe Biden Was VPThe Biden family business received over $20 million from Russia, Ukraine, and Kazakhstan while Joe Biden was vice president. This includes payments from the family foreign business ventures, including two of Joe Biden’s grandchildren. Comer predicted in June that the committee’s work would ultimately show the Biden family accepted up to $30 million from its foreign business dealings.
Source: BreitbartNews - 🏆 610. / 51 Read more »