The administration of US President Joe Biden is preparing to announce “unprecedented” measures to limit US companies’ investment in China.
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Politico, citing sources, writes that the US authorities will oblige American businesses to report new investments in Chinese technology companies to the government.
In addition, American technology companies will be banned from making some agreements with China in “critical sectors”, including the purchase of microchips.
The White House may announce this at the end of April. The American authorities began to warn about the upcoming measures of the business community.
Politico notes that in addition to this, the US is considering a ban on China’s TikTok program.
The US Department of Commerce in October 2022 introduced new export control rules, limited the supply of semiconductors and equipment for their production to China.
The Financial Times called it one of Joe Biden’s toughest moves against Beijing. The restrictions are intended to prevent China from developing advanced weapons. Japan joined US export restrictions in March, and the Netherlands announced plans to introduce such measures.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.