Biden Executive Order Expands Ban on U.S. Investment in Chinese Companies

The Biden administration is expanding a Trump-era order that banned U.S. investment in Chinese companies that support China’s military to include those selling surveillance technology, calling the entities a threat to U.S. interests and values. A new executive order broadens prohibitions that Donald Trump’s administration enacted and moves authority for the ban to the Treasury Department from the Defense Department, to give it stronger legal grounding, senior administration officials said.