President Joe Biden on August 9 signed an executive order banning certain US investments in high-tech in China and requiring the government to report on funding in the public sectors. other technology.
US President Joe Biden. Photo: Reuters
Accordingly, the decree allows the US Treasury Secretary to ban or restrict some US investments in China operating in three areas including semiconductors and microelectronics; quantum information technology; some artificial intelligence systems.
Senate Democratic Leader Chuck Schumer welcomed President Biden's executive order and stressed the need for Congress to recognize and amend the limited legislation. Reuters quoted a White House official as saying that the new regulation only affects future investments, not existing investments. US officials insist that this is only a measure to tighten national security and not to split the US and Chinese economies.
On the same day, a spokesman for the Chinese Embassy in the US said that Beijing was "very disappointed" by Washington's new decision to ban some investments in the high-tech sector in China. The containment measures will seriously undermine the interests of both Chinese and American companies and investors. The Chinese Ministry of Commerce said that the new US policy seriously affects the security of the global industrial and supply chain.
Meanwhile, the Korean Ministry of Trade, Industry and Energy said that the US ban would only have a limited impact on Korean businesses, as it only applies to individuals and entities of the Republic of Korea. US and only restrict future investments. However, Seoul will closely monitor the impact of the ban on the South Korean economy.
On August 10, a spokesman for the European Commission (EC) said that the EC would analyze the ban and keep in close contact with the US Government. Meanwhile, the British Government spokesman said that the above decree clearly shows the US approach to investment abroad. The UK will closely monitor the new measures and continue to assess the potential risks associated with some investments.
According to Newspaper
