Biden fuels tech trade war with China, banning AI, chip, and quantum system investments
US President Joe Biden has ratcheted up the technology trade war with China, issuing an executive order that will restrict investment in several sectors, including semiconductiors and AI. While the move — taken after a prior series of restrictions on US chip-related exports to China — threatens to further disrupt the global tech supply chain, major trade groups and US allies have reacted cautiously so far.
The executive order, issued Wednesday, gives the US Treasury the power to enact specific regulations after a 45-day consultation period in which interested parties may provide comments that will be taken into account for a draft of the new rules. The new regulations will impact three sectors — semiconductors and microelectronics, quantum information technologies, and certain AI systems.