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US-China tensions

Biden executive order on investments in China faces hurdles

Congress and Wall Street push back, while work with key allies remains to be done

U.S. President Joe Biden attends a cabinet meeting. The administration plans to issue an executive order on screening outbound investments in China.   © Reuters

NEW YORK -- The Biden administration's long-expected outbound screening mechanism for U.S. investment in China continues to be delayed as the White House tries to get key allies on board while navigating domestic pushback in Congress and on Wall Street.

The screening mechanism, which would be put forth via executive order from President Joe Biden, would focus on investments in dual-use technologies that could have military applications, such as semiconductors, quantum computing and artificial intelligence. Biotechnology may be included as well.

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