November 4, 2024
Tech sector concerns linger on AI-related ‘outbound investment’ rule
The Information Technology Industry Council says “broad prohibitions” in a Treasury Department final rule on “outbound investment” in China’s advanced-tech sector could have negative implications for U.S. tech companies.
The Treasury Department on Oct. 28 finalized rules prohibiting U.S. persons from making artificial intelligence and other high-tech investments in the People’s Republic of China -- under a 2023 executive order on “outbound investment” security.
Industry groups raised extensive concerns during the rulemaking process but the Biden administration says “Countries...