The White House is drafting new regulations to restrict Chinese money being invested into US tech firms and greatly reduce tech exports to China, sources told the Wall Street Journal.
Alongside the $50 billion in tariffs already approved for Chinese manufacturing and technology products, these two latest measures are designed to inhibit Beijing’s “Made in China 2025” initiative, by which the country aims to move up the global value chain by propelling advancements in certain high-tech industries.
The new rules, expected to be revealed by the Treasury Department later this week, will prevent firms with 25% Chinese ownership from investing in US companies linked to “industrially significant technology.”
The second measure would put a block on exports from those industries being shipped to China, the sources said, but details on quotas or what industries in particular were not given.
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