"Biden broadens Trump's order by restricting US investment in Chinese firms involved in military or surveillance technologies."
The Biden administration is broadening a Trump-era order that prohibits US investment in Chinese companies that fund China's military to include companies that sell surveillance technologies, deeming them a danger to US interests and values.
According to senior administration officials, a new executive order issued Thursday broadens the restrictions enforced by Donald Trump's administration and transfers authority for the ban to the Treasury Department from the Defense Department, giving it a stronger legal foundation. They spoke on the condition of anonymity in order to get a sneak peek at the order before it was made public.
According to the administration, the new order "prevents US investment from promoting the Chinese defence sector while also extending the US government's ability to counter the threat of Chinese surveillance technology firms that contribute — both within and outside China — to the surveillance of religious or ethnic minorities or otherwise promote repression and serious human rights abuses."