President Joe Biden moved to restrict US investment in Chinese technology on Wednesday during a multi-state tour of the Southwest to tout his push to revive American manufacturing.
The executive order directs the Treasury Department to restrict certain US investments in China in sensitive high-tech sectors including semiconductors, quantum computing and artificial intelligence.
The restrictions, which are expected to take effect next year, come as Biden's administration looks to bolster its position vis-a-vis China on a multitude of fronts: military, economic and technological.
They also come as the 80-year-old Democrat revs up his pitch for reelection in 2024, turning his attention to jobs and the economy, key bread-and-butter issues in the campaign for the White House.
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