President Biden will issue an executive order later this week altering a Trump-era ban on U.S. firms making investments in companies with ties to the Chinese military, according to a report Wednesday.
Under Biden’s directive, the Treasury Department will be tasked with compiling a list of companies at risk of penalties for ties to China’s defense and surveillance technology sectors, Bloomberg reported, citing sources familiar with the matter. The order will mark a change from Trump’s policy, which tasked the Defense Department with tracking potential violations.
Additionally, Biden’s order will update guidelines to allow bans on investments in entities that have ties to Chinese defense or surveillance technology sectors. Trump’s version focused on companie
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