China’s government could use TikTok to control data on millions of American users, FBI Director Christopher Wray told a U.S. Senate hearing on Wednesday, saying the Chinese-owned video app “screams” of security concerns. Wray told a Senate Intelligence Committee hearing on worldwide threats to U.S. security that the Chinese government could also use TikTok to […]
Biden Administration
South Korea’s trade minister will meet with counterparts in Washington this week to express concerns that the U.S. Chips Act could make the U.S. a less attractive investment destination, its trade ministry said. During his trip, South Korea’s trade minister Ahn Duk-geun plans to meet with senior officials from the U.S. Commerce Department and White […]
The White House said Tuesday it backs a bill in Congress to give the Biden administration new powers to ban Chinese-owned video app TikTok and other foreign technologies that could pose security threats. White House National Security Advisor Jake Sullivan said the bipartisan bill sponsored by a dozen senators “would strengthen our ability to address […]
Australia’s sovereign wealth fund, the Future Fund, is screening its portfolio for Chinese companies at risk of U.S. investment restrictions, its chairman said on Tuesday. The Biden administration plans to ban investments in some Chinese technology firms and increase scrutiny of others, sources have said, as part of its plan to crack down on the […]
U.S. chipmaker Nvidia Corp’s plans to sell technology to China’s Huawei would be thwarted if the U.S. government proceeds with a proposal to further restrict shipments to the blacklisted company, a draft report by a government contractor shows. The Biden administration has been considering limiting the items it authorizes U.S. companies to ship to telecoms […]
The Treasury Department is preparing a new program that could prohibit U.S. investment in certain sectors of adversarial nations, the Wall Street Journal reported on Friday citing copies of reports provided to lawmakers on Capitol Hill viewed by the newspaper. The Biden administration’s work on the new rules would in practice largely deal with U.S. […]
Two U.S. senators plan to introduce legislation this week aimed at letting the government “ban or prohibit” foreign technology products such as Chinese-owned TikTok, Senator Mark Warner said on Sunday. Warner, the chairman of the Senate Intelligence Committee, said TikTok would be “one of the potentials” for review under the bill. The Democratic senator made […]
U.S. President Joe Biden and German Chancellor Olaf Scholz vowed on Friday to keep imposing costs on Russia for its war in Ukraine, now in its second year, as an EU official said any arms provided by China to Russia would trigger sanctions. Biden and Scholz met in private in the Oval Office for over […]
The Biden administration approved 192 licenses worth over $23 billion to ship U.S. goods and technology to Chinese companies on a U.S. trade blacklist in the first quarter of last year, according to a document released by a U.S. congressional committee on Friday. The 192 licenses granted were out of 242 license applications decided between […]
There was a sense of hesitation in world markets on Friday about whether dramatic re-pricing of U.S. and European interest rate horizon over the past month was an overreaction and a New Year economic burst might prove to be a temporary fillip. Many central bank officials certainly seemed less quick to judgment. U.S. Federal Reserve […]