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A2 u.s. news
Monday 6 March 2023

Biden expected to tighten rules on U.S.

investment in China

By AAMER MADHANI and deliberations. dominating much of the
FATIMA HUSSEIN The soon-to-be-issued ex- talks.
Associated Press ecutive order from Presi- Meanwhile, China this past
WILMINGTON, Del. (AP) — dent Joe Biden will limit week blasted the new
The Biden administration is American investment in House Select Committee
close to tightening rules on advanced technologies on the Chinese Commu-
some overseas investments that have national secu- nist Party after it held its
by U.S. companies in an ef- rity applications — such as first hearing on countering
fort to limit China's ability to next-generation military Beijing's influence. Foreign

President Joe Biden walks towards reporters on the South Lawn acquire technologies that capabilities that could help Ministry spokesperson Mao
of the White House in Washington, Friday, March 3, 2023, before could improve its military China improve the speed Ning demanded its mem-
boarding Marine One. prowess, according to a and accuracy of military bers "discard their ideologi-
Associated Press U.S. official familiar with the decision making, accord- cal bias and zero-sum Cold
ing to the official, who was War mentality."
not authorized to comment Administration officials
and spoke on the condi- have been consulting with
tion of anonymity. allies as they've worked on
The expected action is the formulating the new regu-
latest effort by the White lations on U.S. investment,
House to target China's according to the official.
military and technology The Wall Street Journal first
sectors at a time of increas- reported on Saturday that
ingly fraught relations be- the Treasury and Com-
tween the world's two big- merce departments deliv-
gest economies. ered reports to lawmakers
In October, the Biden ad- on Friday detailing plans for
ministration imposed ex- the new regulatory system
port controls to limit China's to address U.S. overseas
ability to access advanced investment in advanced
chips, which it says can be technologies.
used to make weapons, The agencies said they ex-
commit human rights abus- pected to seek additional
es and improve the speed money for the investment
and accuracy of its military screening program in the
logistics. White House budget, which
The complicated relation- is scheduled to be released
ship has become further on March 9, according to
strained in recent weeks the Journal.
after the U.S. shot down a A White House National Se-
Chinese spy balloon last curity Council spokesper-
month that traversed the son declined to comment
country. The Biden admin- on the Treasury and Com-
istration has also publicized merce reports, but noted
U.S. intelligence findings that administration officials
that raise concern Beijing is have kept Congress ap-
weighing providing Russia prised on its progress in
weaponry for its ongoing crafting an approach to
war on Ukraine. overseas investment.
The tensions were on dis- The expected action is
play as top diplomats from certain to face pushback
the Group of 20 industrial- from U.S. firms. Administra-
ized and developing na- tion officials have sought
tions ended a contentious to signal to the business
meeting in New Delhi on community that even as
Thursday with no consen- they look to examine rules
sus on the Ukraine war and on U.S. investment in Chi-
concerns about China's na, they are mindful of not
widening global influence overreaching.q