Pres. Biden signs executive order to restrict American investments in certain high-tech sectors in China, including AI, semiconductors, and quantum computing, citing national security concerns, according to senior administration officials.
August 9, 2023, 4:54 PMChinese President Xi Jinping shakes hands with Vice President Joe Biden, left, inside the Great Hall of the People on Dec. 4, 2013, in Beijing.President Joe Biden has signed an executive order Wednesday that will restrict American investments in certain high-tech sectors in China, including artificial intelligence,, and quantum computing, citing national security concerns, according to senior Biden administration officials.
The move, which will likely garner pushback from Beijing, marks a major step by the Biden administration to restrict the flow of technology to China. The administration -- as well as lawmakers on both sides of the aisle -- have voiced concerns China could use American expertise to modernize its military and weaponry.
"This is a national security action, not an economic one," an official told reporters Wednesday. "We recognize the important role that cross-border investment flows play in U.S. economic vitality, and this executive order is aimed at narrowly protecting our national security interests while maintaining that longstanding commitment to open investment."
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