Joe Biden to maintain Trump administration rules to limit China tech purchases: Reports
Washington/Sputnik: The Biden administration plans to maintain and impose sweeping new rules to limit China's purchase of advanced technology from the United States, The Wall Street Journal reported on Friday.
The tough new regulations enacted under President Donald Trump are still going to go into effect in March, despite objections from the US business community claiming they are too onerous, too sweeping and will be impossible to enforce, the report said citing people familiar with the matter.
The rule, which was proposed in November 2020, will empower the Department of Commerce with the authority to ban technology-related business transactions that it decides present a national security threat as part of Biden's announced program to secure US supply chains for critical technology and raw materials, the Journal said.
US companies specializing in technology, telecommunications and finance oppose the new rule arguing that it could prevent innovation and hurt competitiveness, but the Biden administration is determined to enforce it, fearing that failure to do so would send a message of weakness to Beijing, the report said.