Biden To Sign Order Curbing US Tech Investments in China by Mid-August

President Joe Biden is planning to sign an executive order to limit critical US technology investments in China by mid-August, Bloomberg News reported Friday, citing people familiar with the internal deliberations. From the report: The order focuses on semiconductors, artificial intelligence and quantum computing. It won't affect any existing investments and will only prohibit certain transactions. Other deals will have to be disclosed to the government. The timing for the order, slated for the second week of August, has slipped many times before, and there is no guarantee it won't be delayed again. But internal discussions have already shifted from the substance of the measures to rolling out the order and accompanying rule, said the people familiar who spoke on condition of anonymity. The restrictions won't take effect until next year, and their scope will be laid out in a rulemaking process, involving a comment period so stakeholders can weigh in on the final version.

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