WASHINGTON: US President Joe Biden on Wednesday (Aug 9) issued an executive order aimed at restricting certain American investments in sensitive high-tech areas in China - a move that could further strain ties between the world's top two economies. The long-anticipated rules, expected to be implemented nex
The Treasury is considering a notification requirement for US investments in Chinese entities involved in less advanced semiconductors, and activities relating to certain types of artificial intelligence.
"It's possible that while they're not directly subject to bans, companies will rethink the nature of their investments and that could have a chilling effect on bilateral investment over time," Benson told AFP. "I emphasised that it would be highly targeted and clearly directed narrowly at a few sectors where we have specific national security concerns," Yellen said at the time.
"If you want to have an impact, you've got to get other countries that are making these kinds of investments in China to have a similar regime," he said.
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