PALO ALTO, U.S./NEW YORK — U.S. President Joe Biden signed an executive order Wednesday that restricts certain American investments in mainland China, Hong Kong and Macao in high-tech sectors such as artificial intelligence, semiconductors and quantum technology.
The move prohibits U.S. persons from making “certain transactions” in semiconductors and microelectronics, quantum information technologies and AI sectors and requires them to notify the Treasury Department when making such transactions.