US President Joe Biden’s stance on Trump’s orders has been closely watched by Wall Street and Congress. Lawmakers from both parties have called for a tough stance against China on issues ranging from trade to human rights.
President Joe Biden signed an order on Thursday to amend the ban on US investment in Chinese companies started by his predecessor, appointing 59 companies connected to the Chinese military or surveillance industry, including Huawei Technologies Co., Ltd. and China’s three major companies. Telecommunications company.
According to a government official who asked not to be named, the new investment ban will take effect in New York at 12:01 am on August 2. Investors will have a year to completely divest themselves.