Outbound investment rule aims to stop adversaries "from using U.S. investment to develop critical technologies", Bessent says.
AI⏱ 1 min read · Source: The Next Web
⚡ Key Takeaways
- It targets China, Russia, North Korea and other “countries of concern”, the Associated Press reported.
- They are chips, AI, quantum technology, supercomputing and hypersonic systems. Treasury used its power under the act to add biotechnology.
- Beside China, including Hong Kong and Macau, it now names Cuba, Iran, North Korea and Russia, according to Treasury’s fact sheet.
The Next Web reports: “The proposed regulations would strengthen the existing Outbound Investment Security Program to prevent our adversaries from using U.S. investment to develop critical technologies that threaten U.S. national security,” Treasury Secretary Scott Bessent said. The US Treasury published the proposal on Thursday.
Key Points
- It targets China, Russia, North Korea and other “countries of concern”, the Associated Press reported.
- They are chips, AI, quantum technology, supercomputing and hypersonic systems. Treasury used its power under the act to add biotechnology.
- Beside China, including Hong Kong and Macau, it now names Cuba, Iran, North Korea and Russia, according to Treasury’s fact sheet.
The Details
The outbound investment rule would widen limits on American money for chips, AI and other sensitive tech. That year, then-President Joe Biden signed an order that limited some US investment in Chinese chips, quantum computing and AI, AP noted.
Read the Full Story
This is a short news brief prepared by our desk. For the complete report, including all quotes and context, read the original article at The Next Web.
Source: This article is based on reporting by The Next Web (Alina Maria Stan). Read the original article.
This story was compiled automatically by BSDC Cortex 7.0 from the cited source, then checked by automated fact, style and quality gates. No external AI service was used.
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