USA Joe Biden tightens controls on foreign investments

USA: Joe Biden tightens controls on foreign investments

That president of the United States, Joe Biden, this Thursday, September 15, signed an executive order banning certain foreign investments in his country. The White House believes other countries are using this channel to steal North American data and technology, which would jeopardize its own National security.

The text “explicitly states that certain countries use the foreign investment to gain access to sensitive data and technology for purposes harmful to the national security of the United States,” said a spokesman for Washington.

The statement of American government specifies that this decision is directed against “nations that compete or are rivals”. Washington, but did not mention any country directly. Consulted by the press, a representative ruled out that it was a policy directly opposed China.

This is the first standard to update the Foreign Investment Committee in the United States, which has been monitoring these movements since 1975. The Biden administration asked this group to analyze investment reviews based on five factors, including monitoring the impact of the transaction on the national supply chain and evaluating the impact of that capital on key sectors such as microelectronics, artificial intelligence, biotechnology, quantum computing, clean energy and climate change adaptation technologies.

Biden’s predecessor, Donald Trump, claimed in 2018 that he had a plan to limit Chinese investment in tech companies. United States of America. This with the aim of combating the theft of intellectual property, which triggered a new scenario of tension between the two world powers.

Trump also significantly increased tariffs on imports China during its trade war with that country, and the current government has maintained them on $350,000 million worth of imports. The previous administration believed that some levies were designed to ensure the national security of the United States.

With information from EFE and AFP.