The U.S. Department of Treasury is implementing a new rule to limit outbound U.S. investments in Chinese companies developing advanced technologies that could impact U.S. national security.
The Treasury Department rule is set to go into effect on Jan. 2, 2025, and is meant to create an enforcement framework for an executive order President Joe Biden enacted in August of last year.
“The Biden-Harris Administration is committed to keeping America safe by preventing countries of concern—namely the People’s Republic of China—from advancing in key technologies that are critical to their military modernization,” the White House said in an Oct. 28 press statement announcing the new rule….