US will impose restrictions on Chinese technologies

American President Joe Biden is preparing to sign an executive order limiting US investment in Chinese technology.
The executive order is expected to take effect by mid-August. The constraint will focus on the development of artificial intelligence, quantum computing, and semiconductor technologies. However, it will not affect existing investments. The news comes amid persistent concerns about China's dominance of the technology market and its potential security and economic ramifications for the United States. Technologies are expected to play a central role in advancing large industries.

CHINA WILL RESPOND
In July, the Senate approved legislation that would require U.S. companies to notify the Treasury when investing in Chinese technology, which is considered a national security concern, such as satellite communications technology and microelectronics. U.S. senators Bob Casey and John Cornyn have proposed new legislation to monitor U.S. investments in China as part of the Outbound Investment Transparency Act. Casey: "The U.S. is at a crossroads; we can take control of our own future or let China eat our lunch."

"When American companies invest in technologies like semiconductors or artificial intelligence in countries like China and Russia, their capital, intellectual property, and innovation can fall into the wrong hands and become a weapon against us," Cornyn said. "This bill will increase the visibility of these investments that will help the United States gather the information needed to better assess our national vulnerabilities."

CHINA STOPPED DRONE EXPORTS TO THE US
A bill has not yet landed on Biden's desk, but despite this, lawmakers from both parties are showing interest in passing legislation on the issue.

But China's envoy in Washington said earlier this month that Beijing would retaliate if the U.S. imposed new limits on technology or capital flows.

China announced earlier this week that it is imposing new export restrictions on the United States, including drones, saying it wants to protect "national security and interests".
China, a major drone manufacturing industry that exports to many markets, including the United States, announced on Monday that it will impose export controls on some drones and unmanned aerial vehicle-related equipment, saying it wants to protect "national security and interests" as a result of escalating tensions with the United States over access to technology.
The trade ministry said restrictions on equipment, including some drone engines, lasers, communications equipment, and anti-drone defense systems, will come into effect on September 1.
A ministry spokesman said in a statement that the controls will also affect some consumer drones and that no civilian drones can be exported for military purposes.
"China's modest expansion of drone control this time is an important measure to demonstrate our standing as a responsible major country, implement global security initiatives, and maintain world peace," an unidentified ministry spokesman said. The spokesperson also said that the authorities informed the relevant countries and regions.
US lawmakers have previously said that more than half of the drones sold in the US are made by the China-based company DJI, making them the most popular drones used by public safety agencies.
DJI: "WE ALWAYS SLEEP."
DJI said on Monday that China has always strictly complied with the laws and regulations of the countries in which it operates, including regions with export control regulation requirements.
"We have never designed and manufactured products and equipment for military use, nor have we marketed or sold our products for use in military conflicts or wars in any country," the drone manufacturer said.
In March 2022, a German retailer accused DJI of leaking data on Ukrainian military positions to Russia, which the company denied.
China's Ministry of Commerce said in April this year that the US and Western media were spreading "baseless accusations" of exporting drones to the battlefield in Ukraine, adding that the reports were an attempt to "slander" Chinese firms and that it would continue to strengthen export controls.
The restrictions on drone exports come after China announced last month export controls on some metals commonly used in chipmaking last month following U.S. moves to restrict China's access to key technologies such as chip-making equipment.