Biden’s new restrictions on U.S. investment in China prompt Ottawa to consult with Washington

📆 14-07-23 21:45:00
📰 globeandmail

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Press secretary for Innovation Minister did not say whether Canada would consider similar measures against Chinese advancement in some technology sectors

Canadian officials are consulting with Washington about how to deal with an executive order President Joe Biden signed Wednesday to prohibit some new U.S. investment in China in sensitive technologies like computer chips.authorizes the U.S. Treasury Secretary to prohibit or restrict U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems.

Audrey Champoux, press secretary for Innovation Minister François-Philippe Champagne said officials from the department as well as Global Affairs and Finance are “in close contact with their U.S. counterparts regarding the executive order outlining the intention to regulate U.S.-outbound investments.”

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