Biden finalizes crackdown on US military tech investments in China with one week to lame duck session [Video]

The Treasury Department finalized a crackdown that will prevent the U.S. from investing in the development of military technologies in China this week.

Hawks say the rule is “long overdue” and not broad enough, while some are skeptical of taking U.S. investment power out of China.

The rule prohibits U.S. financing of some China-based ventures and requires Americans to notify the government of their involvement in others.

It restricts and monitors American investments in artificial intelligence, computer chips and quantum computing, all of which have a dual use in the defense and commercial sectors.

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The rule seeks to limit the access “countries of concern” like China, including Hong Kong and Macao, have to U.S. dollars to fund the development of high-level technologies like next-generation missile systems and fighter jets they could then utilize for their own military. It’s set to take effect Jan. 2.

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