Biden to issue U.S. investment restrictions on some high-tech industries in China

The Biden administration plans to issue an executive order Wednesday restricting U.S. investment in some high-tech industries in China, an administration official confirmed to NBC News., is narrow and targeted, and comes amid growing tensions with China. It includes restrictions on U.S. investments on high-tech sectors in China such as quantum computing, artificial intelligence and advanced semi-conductors, the official said, adding that the executive order is set to be announced at 4 p.m.

The administration was expected to follow up with more restrictions on U.S.-made semiconductor technology, including a new executive order on any American investment linked to China’s defense industry. “The United States will, in certain circumstances, need to pursue targeted actions to protect its national security,” Yellen said during her trip to China. “And we may disagree in these instances."

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