Tuesday, February 27, 2024
14.1 C
New Jersey

Tightening US Investment Restrictions in China Under Biden

Must read

Editorial Teamhttps://www.xtrempoint.com
Where News Meets Insights, We Keep you Ahead!

The Joe Biden administration is close to tightening rules on US investment in China, the Associated Press reported, citing a knowledgeable US official.

The official told The Associated Press that Biden’s soon-to-be-issued executive order would limit U.S. investment in advanced technologies that are used in national security applications, such as next-generation military capabilities that could help China improve the speed and accuracy of military decisions. -production.

The pending action is the latest attempt by the White House to strike at China’s military and technology sectors at a time of heightened tensions between the world’s two largest economies.

Last October, the Biden administration imposed export controls to limit China’s access to advanced chips that could be used to make weapons, commit human rights abuses, and improve the speed and accuracy of military logistics.

The complicated relationship has become even more strained in recent weeks after the United States shot down a Chinese balloon last month because it crossed the country.

Source: “AB”

More articles

Leave a Reply

Latest article