WASHINGTON — President Joe Biden aims to sign an executive order in the coming weeks that will limit investment in key parts of China’s economy by American businesses, people familiar with the internal deliberations said.
The administration, which has been debating the measure for almost two years, plans to take action around the time of a summit of the Group of Seven advanced economies that’s due to start on May 19 in Japan.
The U.S. has been briefing its G-7 partners on the investment curbs for high-tech industries, and hopes to get an endorsement at next month’s meeting, even though the other countries aren’t expected to announce similar restrictions at the same time, the people said. The likeliest sequence is for the executive order to be signed soon after that expression of international support, one of the people said.
