The Treasury Department on Friday fleshed out a proposed rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing.
The proposed rule stems from President Joe Biden's August 2023 executive order regarding the access that “countries of concern” have to American dollars that fund advanced technologies, which the U.S. government says would enhance their military, intelligence, surveillance and cyber capabilities. The order identified China, Hong Kong and Macau as countries of concern.
