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Treasury Seeking Comments on Proposal to Prohibit Tech-Related Deals in Countries of Concern

Home Asia Treasury Seeking Comments on Proposal to Prohibit Tech-Related Deals in Countries of Concern
Treasury Seeking Comments on Proposal to Prohibit Tech-Related Deals in Countries of Concern

The Department of the Treasury is soliciting comments on its proposed regulations addressing potential national security issues posed by U.S. investments in locations deemed countries of concern under an executive order on national security technologies and products.

The Treasury issued a notice of proposed rulemaking in compliance with Executive Order 14105, under which the department must create regulations banning U.S. persons’ involvement in technology-related transactions that could impact U.S. national security and requiring them to report such deals.

Comments of the NPRM are due Aug. 4.

Technologies covered under the EO are semiconductors and microelectronics, quantum information technologies, and artificial intelligence.

According to Paul Rosen, assistant secretary of the treasury for investment security, the proposed rule will prevent U.S. resources from being used to advance the capabilities of countries that could threaten national security.

The EO identified China and its special administrative regions, Hong Kong and Macao, as countries of concern.

The United States has been working with its allies to prevent Beijing from accessing U.S. technologies, particularly advanced semiconductors and chipmaking equipment.

Last week, Alan Estevez, the U.S. export policy chief, was headed to Japan following a meeting with government leaders in the Netherlands to build on a 2023 trilateral agreement to keep chipmaking tools from the hands of the Chinese military.

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