Biden Signs Executive Order Limiting Chinese Tech InvestmentsBiden Signs Executive Order Limiting Chinese Tech Investments
AI, semiconductors and microelectronics also cited as a risk to national security
August 10, 2023
President Joe Biden has signed an executive order that limits U.S. citizens from investing in companies based in China, Hong Kong or Macau that work in quantum information technologies, semiconductors, microelectronics and artificial intelligence (AI).
The executive order says that these “countries of concern” are engaged in developing these technologies, which are critical to their military, intelligence, surveillance or cyber-enabled capabilities.
“Moreover, these countries eliminate barriers between civilian and commercial sectors and military and defense industrial sectors, not just through research and development, but also by acquiring and diverting the world’s cutting-edge technologies, for the purposes of achieving military dominance,” Biden says in the document.
The executive order states that rapid advancement in quantum, AI, semiconductors and microelectronics by these countries significantly enhances their ability to conduct activities that threaten the national security of the U.S. It says they could be used in the development of more sophisticated weapons systems, breaking cryptographic codes and other applications that could provide them with military advantages.
The executive order aims to establish a national security program to be implemented and administered by the Treasury alongside existing export control and investment screening tools.
The Treasury has issued an advanced notice of proposed rulemaking inviting stakeholder input on national security technologies related to quantum information technology, AI and semiconductors.
This article first appeared in IoT World Today's sister publication Enter Quantum.
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