The Treasury Department has fleshed out its proposed rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing.
FILE - The Treasury Building is viewed in Washington, May 4, 2021. The proposed rule, released Friday, June 21, 2024, stems from President Joe Biden 's August 2023 executive order regarding the access that"countries of concern" have to American dollars funding advanced technologies that the U.S. government says would enhance their military, intelligence, surveillance, and cyber capabilities.
It specifically would prohibit American investors from funding AI systems in China that could be used for weapons targeting, combat and location tracking, among other military applications, according to a senior Treasury official who previewed the rule for reporters on the condition of anonymity. Biden administration officials, including Treasury Secretary Janet Yellen, have insisted that they have no interest in “decoupling” from China — however, tensions between the two nations have increased in recent years.after it traversed sensitive military sites across North America, China threatened repercussions.
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