What’s Next: Trump’s Plan to Curb Chinese Tech: President Trump may move to curb China’s technological ambitions by blocking its access to key US technologies through trade and investment, WSJ’s Bob Davis reports:
Part I: “The Treasury Department is crafting rules that would block firms with at least 25% Chinese ownership from buying companies involved in what the White House calls ‘industrially significant technology.'”
Part II: “The National Security Council and the Commerce Department are putting together plans for ‘enhanced’ export controls, designed to keep such technologies from being shipped to China.”
Treasury Secretary Steven Mnuchin disputes the reports: “On behalf of @realDonaldTrump, the stories on investment restrictions … are false, fake news. The leaker either doesn’t exist or know the subject very well.”
The Big Picture: Whatever strategy the US pursues will be aimed at curbing China’s ability to acquire or reverse-engineer US technologies, a key part of its effort to become a global leader in AI, aerospace, and other areas of technology by 2025.
Sign of the Times: “China Extends Lead as Most Prolific Supercomputer Maker” via NYT’s Steve Lohr: “For years, the United States dominated the supercomputer market. But two years ago, China pulled even … [and] moved decisively ahead last fall.”
The FAANG stocks — Facebook, Amazon, Apple, Netflix and Google — fell slightly on fears of a trade war …
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