EU Commission to analyse US order on tech curbs in China
BRUSSELS, August 10 (Reuters) – The European Commission has revealed its intention to carefully evaluate the recent U.S. prohibition on new American investments in China concerning sensitive technological sectors, including computer chips. The EU executive branch announced on Thursday that it is actively engaging with the U.S. administration to understand the implications of this move.
U.S. President Joe Biden’s executive order, signed on Wednesday, outlines restrictions on U.S. investments in Chinese entities operating within three specific industries: semiconductors and microelectronics, quantum information technologies, and specific artificial intelligence systems.
“We acknowledge the issuance of the U.S. Executive Order on outbound investment on August 9. We will conduct a thorough analysis of the Executive Order,” conveyed a spokesperson for the European Commission through an email statement.
Continuing collaboration with the U.S. government is a key focus for the European Commission in order to address the implications and ramifications of this directive.
The German economy ministry also noted the European Commission’s intention to assess the U.S. ban. A spokesperson mentioned to Reuters, “We will actively participate in this process.”
In light of recent challenges in its economic relations with Russia, Germany has expressed a desire to adopt a de-risking strategy towards its engagement with China. The German government has initiated discussions about potential measures to mitigate risks associated with foreign investments.
