US prepares new rules on investment in
technology abroad- WSJ
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[March 04, 2023]
(Reuters) - The Treasury Department is preparing a new program
that could prohibit U.S. investment in certain sectors of adversarial
nations, the Wall Street Journal reported on Friday citing copies of
reports provided to lawmakers on Capitol Hill viewed by the newspaper. |
A bronze seal for the Department of the
Treasury is shown at the U.S. Treasury building in Washington, U.S.,
January 20, 2023. REUTERS/Kevin Lamarque |
The
Biden administration's work on the new rules would in practice
largely deal with U.S. investments in China though the report
given to lawmakers did not identify any countries, the WSJ said.
The new rules are expected to cover private-equity and
venture-capital investments in advanced semiconductors,
supercomputing and some forms of artificial intelligence, the
WSJ reported quoting people familiar with the matter as saying.
The Treasury and Commerce departments expected to finalize their
policy in the near future, it added.
Reuters reported last month that Biden administration was
planning an outright ban on investments in some Chinese
technology companies and increased scrutiny of others.
The United States passed a sweeping set of regulations last year
that aimed at hobbling China's semiconductor industry.
(Reporting by Jose Joseph and Anirudh Saligrama in Bengaluru;
Editing by Himani Sarkar and Simon Cameron-Moore)
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