President Joe Biden is expected to issue his long-awaited executive order to screen outbound investments in sensitive technologies to China early next week, according to people familiar with the matter.The goal of the order is to prevent U.S. capital and expertise from accelerating the development of technologies that would support China's military modernization and threaten U.S. national security.
The regulations are not expected to take effect right away and the administration will solicit comment on its proposals, according to sources. It has already conducted meetings with stakeholders and has been consulting with allies. It also came up during U.S Treasury Secretary Janet Yellen's recent trip to China.
Two sources said briefings were expected on Monday, with the announcement Tuesday. But the timing has slipped many times before and could again.
Source: News Formal (newsformal.com)
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