President Joe Biden’s administration says it’s finalizing guidelines to curb investments in AI and different tech sectors in China, Reuters studies.
The foundations, which have been first proposed in June by the U.S. Treasury and directed by an govt order President Biden signed in August 2023, cowl sure AI programs, quantum data programs, and semiconductors and microelectronics. Particularly, the foundations pertain to applied sciences core to navy and surveillance programs, like code-breaking pc programs and next-generation fighter jets.
Starting January 2, traders shall be banned from funneling capital and “intangible advantages,” like managerial help and entry to funding and expertise networks, to assist China and different “international locations of concern” develop navy, intelligence, and cybersecurity capabilities.
Overseen by Treasury’s newly created Workplace of International Transactions, the brand new guidelines include a carve-out permitting U.S. funding in publicly traded securities. However earlier govt orders bar the shopping for and promoting of securities of sure “designated” Chinese language corporations.