Biden bans US investment in Chinese military and tech surveillance sectors

Executive order will enforce a ban on 59 companies including Huawei and chip maker SMIC as president expands Trump-era policy

Joe Biden has signed an executive order that bans American entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors.

In a move that his administration says will expand the scope of a legally flawed Trump-era order, the US treasury will enforce and update on a rolling basis" the new ban list of about 59 companies.