White House nears unprecedented action on U.S. investment in China

President Joe Biden’s administration has been divided at the highest levels for years over how aggressively to limit economic engagement with China. But officials now appear to be nearing an agreement on one key effort to curtail Beijing’s technological and military rise.

Unprecedented rules limiting American investments in China are expected later this month — and the administration has begun briefing industry groups like the Chamber of Commerce on the broad outlines of the executive order, which is expected to require companies to notify the government of new investments in Chinese tech firms and prohibit some deals in critical sectors like microchips.