US working on new laws to ban investments in Chinese tech firms
The US is working on drafting new regulations that would prohibit investments and transfer of technology to Chinese firms working on developing advanced semiconductors, artificial intelligence, and quantum computing, a US Treasury official said Wednesday.
The new regulations will not only focus on Chinese firms but also its military organizations, Paul Rosen, US Treasury’s investment security chief, said at a Senate Banking Committee hearing focusing on countering China and advancing US national security, economic security, and foreign policy.