Thursday 15 September 2022 09:53 PM Biden signs EO that could block Chinese investment in US tech trends now
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President Joe Biden on Thursday signed an executive order that could block out foreign investment in U.S. sectors if deemed a national security risk.
While the White House said the new order is not targeted toward any particular country, it comes amid growing concern among U.S. officials about China's investments in the U.S. technology sector and other industries.
Administration officials said the the order will bolster oversight by the Committee on Foreign Investment in the United States, an interagency group tasked with reviewing deals and mergers involving foreign people and entities.
Areas where deals might be blocked include 'microelectronics, artificial intelligence, biotechnology and biomanufacturing, quantum computing, advanced clean energy, and climate adaptation technologies,' a White House summary said.
The committee, known as CFIUS, is made up of members of the departments of State, Defense, Justice, Commerce, Energy and Homeland Security and is led by the Treasury secretary.
President Joe Biden on Thursday signed an executive order that could block out foreign investment in U.S. sectors if deemed a national security risk
Sectors include areas like artificial intelligence, quantum computing, microelectronics and more,
