WASHINGTON — Lawmakers added new restrictions and limitations late last year on Chinese entities trying to buy U.S. high-tech companies as well as a ban on collaboration between American and Chinese government agencies in several technology sectors.
The provisions included in the fiscal 2023 spending legislation enacted at the end of December are the latest move by Congress to deny Beijing access to U.S. technologies and research and thwart China’s stated goal of overtaking the U.S. as the global technology leader.
Under the new law, U.S. companies being acquired by or merging with foreign entities must notify the Federal Trade Commission of any subsidies the foreign company may have received from governments, including China’s, that pose a strategic and economic threat to the U.S.
