The executive order, aimed at slowing Beijing’s military development, represents the first time Washington has exerted broad oversight on American business overseas. Despite recent changes, the order still puts the Biden administration in a more hawkish position than congressional lawmakers, who have also debated legislation on American investments in China for years.
Despite recent changes, the order still puts the Biden administration in a more hawkish position than congressional lawmakers, who have also debated legislation on American investments in China for years. | Susan Walsh/AP PhotoPresident Joe Biden on Wednesday will establish new rules limiting American investments in high-end Chinese technology sectors — a long-awaited effort meant to stop U.S. capitalThe move represents the first time the U.S.
The rules will only apply to new investments — not existing deals — and will go into effect following a comment period for industry. The White House declined to comment.
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