Biden signs order restricting tech investment in China despite "no-decoupling" pledge
U.S. President Joe Biden walks on the South Lawn at the White House in Washington, D.C., the United States, May 10, 2023. (Photo by Ting Shen/Xinhua)
Biden's executive order will designate China as a "country of concern," and the rules are expected to go into effect following a 45-day comment period.
NEW YORK, Aug. 9 (Xinhua) -- U.S. President Joe Biden signed an executive order Wednesday that would block and regulate high-tech U.S.-based investments going toward China though Washington said repeatedly that they have no interest in "decoupling" from China.
Biden's executive order will designate China as a "country of concern," and it will limit American investments in three categories of national security technologies: semiconductors and microelectronics, quantum information technologies, and certain artificial intelligence systems, according to the U.S. Treasury Department.
The rules are expected to go into effect following a 45-day comment period.
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