by Foo Yun Chee
BRUSSELS (Reuters) – The European Commission will review U.S. restrictions on new investment in China in sensitive technology, the issue also affecting the European Union’s economic security, the EU executive said on Thursday.
US President Joe Biden on Wednesday signed an executive order limiting certain US investments in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems.
The Commission, which presented its own economic security plan in June consisting of tightening controls on the export and exit of technologies likely to be used for military purposes, said it took note of the American ban.
“We will closely analyze the decree. We are in close contact with the US administration and look forward to continued cooperation on this matter,” a Commission spokesperson said in an email.
(Reporting Foo Yun Chee in Brussels and Andreas Rinke in Berlin; with the contribution of Rachel More; Nathan Vifflin, edited by)
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