New Rules for U.S. Investments in China Face Fresh Hurdle: Biden’s Team
- Treasury officials pitch weaker framework than in House bill
- White House didn’t approve Treasury proposal for pilot program
President Joe Biden
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
Bipartisan efforts in Congress to shield sensitive U.S. technology from China face a new hurdle: the Biden administration, which is divided over whether to intensify scrutiny of American investments in the world’s second-largest economy.
Legislation supported by Democrats and Republicans aims to better regulate what’s known as outbound investments in U.S. adversaries such as China and Russia, seeking to move more of the supply chain for critical sectors like technology to either the U.S. or friendlier countries.