Despite fraying relations with Beijing, President Biden is expected to forego expansive new restrictions on American investment in China to focus largely on increasing transparency of those deals.
Officials in the administration and Congress who have advocated a tougher line with China will be “very disappointed” if the eventual order “falls short of having the authority to reject deals” between U.S. and Chinese firms, said Eric Sayers, a former staffer for the U.S. Indo-Pacific Command during the Trump administration.
“While this [executive order] is the first official step, we shouldn’t expect it to be the last,” said Sayers, now managing director at D.C. consulting firm Beacon Global Strategies. He noted that past investment screening policies, like the Committee on Foreign Investment in the United States, took decades to be fully established. “This will likely be an additive process that grows over time through both executive powers and legislative action,” he said.
Such an order would represent a setback for national security leaders in the White House, led by the National Security Council, who have advocated for a more aggressive approach. Last September, national security adviserthat the administration would aim to undermine Chinese development across a numbers of sectors — AI, quantum, chips, biotech and clean energy — that were subject to the original executive order discussions.
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