Biden will let Trump-era China tech rules take effect next month


WSJ report

WSJ report
The Biden administration will give the Commerce Department the ability to ban technology-related business
transactions that it determines pose a national-security threat, part of
an effort to secure US supply chains, according to the WSJ.

This was a Trump administration rule that never went into effect. Companies who could be effected thought it would be delayed, according to the report. Instead, Biden is trying to send a strong message to China.

The caveat:

One person familiar with the matter said administration officials have
signaled to the business community that they won’t enforce the rule
aggressively.

The move will undoubtedly add red tape to doing business with China and would apply “to technology transactions
involving critical US infrastructure, networks and satellite
operations, large data hosting operations, widely used internet
connectivity software, and technology used in advanced computing,
drones, autonomous systems or advanced robotics, according to the draft
rule.”

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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