President Biden Signs Executive Order to Regulate U.S. Investments in Sensitive Technologies in Countries of Concern
President Biden signed an executive order on August 9, 2023, that will regulate certain U.S. investments in countries of concern in entities engaged in activities involving sensitive technologies critical to national security. The order specifically targets investments in semiconductors and microelectronics, quantum information technologies, and artificial intelligence.
President Biden signed an executive order on August 9, 2023, that will regulate certain U.S. investments in countries of concern in entities engaged in activities involving sensitive technologies critical to national security. The order specifically targets investments in semiconductors and microelectronics, quantum information technologies, and artificial intelligence.
The order identifies the People's Republic of China (PRC) as a country of concern and requires the Secretary of the Treasury develop a program to regulate U.S. investments in these sensitive technologies in countries of concern. The program will prohibit certain investments in entities that engage in specific activities related to these technology areas that pose the most acute national security risks, and require notification for other sensitive investments.
The order is designed to prevent foreign countries of concern from exploiting U.S. investment in these sensitive technologies to develop military, intelligence, surveillance, and cyber-enabled capabilities that risk U.S. national security.
If you are a technology company and you are concerned about how to navigate an evolving regulatory environment, contact Lanton Law today. We stay up-to-date on the latest technology policy and legal trends and can help you implement new business strategies.
U.S. Senate Passes the Innovation and Competition Act
Earlier this month the U.S. Senate passed a rare bi-partisan bill called the United States Innovation and Competition Act, which seeks to improve America's competitive edge by investing billions of dollars in scientific and technological innovations – including artificial intelligence, computer chips and robotics.
Earlier this month the U.S. Senate passed a rare bi-partisan bill called the United States Innovation and Competition Act, which seeks to improve America's competitive edge by investing billions of dollars in scientific and technological innovations – including artificial intelligence, computer chips and robotics. The bill would boost funding for research and technology manufacturing to increase America's competitiveness, strengthen national security and grow the economy. The bill’s future is uncertain in the U.S. House of Representatives, where the House has a similar bill but it is unlikely that there will not be some kind of compromise between the House and Senate, especially where national security is concerned.
Lanton Law’s technology practice has been monitoring similar legislative and legal developments. If you are a technology or healthcare/life science stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions, contact us today.
White House Releases Report Outlining Steps to Strengthen Critical Supply Chains
In February 2021, President Biden issued an Executive Order to direct a government-wide “approach to assessing vulnerabilities in, and strengthening the resilience of, critical supply chains.”
In February 2021, President Biden issued an Executive Order to direct a government-wide “approach to assessing vulnerabilities in, and strengthening the resilience of, critical supply chains.”
The key findings highlight recommendations from its “comprehensive 100-day supply chain assessments for four critical products: semiconductor manufacturing and advanced packaging; large capacity batteries, like those for electric vehicles; critical minerals and materials; and pharmaceuticals and active pharmaceutical ingredients (APIs).”
Lanton Law has several years of experience with supply chain issues. Our firm is a national boutique regulatory law and lobbying firm that focuses on healthcare/life science and technology.
If you are an industry stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions, contact us today.