WILMINGTON, Delaware: The Biden administration is close to tightening rules on some overseas investments by US companies in an effort to limit China's ability to acquire technologies that could improve its military prowess, according to a US official familiar with the deliberations.
The soon-to-be-issued executive order from President Joe Biden will limit American investment in advanced technologies that have national security applications — such as next-generation military capabilities that could help China improve the speed and accuracy of military decision making, according to the official, who was not authorized to comment and spoke on the condition of anonymity.
'Administration officials have been consulting with allies as they've worked on formulating the new regulations on US investment, according to the official.The Wall Street Journal first reported on Saturday that the Treasury and Commerce departments delivered reports to lawmakers on Friday detailing plans for the new regulatory system to address US overseas investment in advanced technologies.
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