NEW YORK/WASHINGTON: The White House on Wednesday (Aug 9) will detail its plans to prohibit some US investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters. The plans are aimed at preventing US capital and exper
NEW YORK/WASHINGTON: The White House on Wednesday will detail its plans to prohibit some US investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters.
US Commerce Secretary Gina Raimondo said in March the administration did not"want to be overly broad ... anything that's overly broad hurts American workers and the economy". The New York Times reported on Tuesday that the Biden administration plans to require firms making investments in a broader range of Chinese industries to report that activity, which will give the US government great visibility into financial transactions between the United States and China.
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