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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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<h2 class="wp-block-heading">Key Notes:</h2>
<ul class="wp-block-list">
<li>A new Executive Order prohibits U.S. investments in semiconductors and microelectronics, quantum information technologies, and artificial intelligence capabilities in China and other countries of concern and imposes certain notification requirements.</li>
<li>Certain passive and similar investments will be excepted from the restrictions.</li>
<li>An Advanced Notice of Public Rulemaking seeks public comment on the scope of restrictions, notification requirements, and exceptions by September 28.</li>
</ul>
<p>On August 9 President Biden signed an&nbsp;<a href="https://www.whitehouse.gov/briefing-room/presidential-actions/2023/08/09/executive-order-on-addressing-united-states-investments-in-certain-national-security-technologies-and-products-in-countries-of-concern/" target="_blank" rel="noreferrer noopener">&ldquo;Executive Order on Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern&rdquo;</a>&nbsp;(EO), which authorizes the Secretary of the Treasury to regulate certain U.S. investments into &ldquo;countries of concern&rdquo; in entities engaged in activities involving sensitive technologies that are critical to U.S. national security. Currently, the only identified country of concern is the People&rsquo;s Republic of China (China), including the Special Administrative Regions of Hong Kong and Macau. Simultaneously, the Department of the Treasury (Treasury) released an&nbsp;<a href="https://public-inspection.federalregister.gov/2023-17164.pdf" target="_blank" rel="noreferrer noopener">Advanced Notice of Proposed Rulemaking</a>&nbsp;(ANPRM) setting forth more proposed details on the scope of such investment restrictions and the manner of implementing this requirement and seeking public comment.</p>
<p><strong>View this full client update in <a href="https://www.thompsonhine.com/insights/executive-order-issued-restricting-u-s-investments-in-chinese-technology-treasury-seeks-public-comment-on-implementation/">HTML</a> or<a href="https://admin.thompsonhine.com/wp-content/uploads/2023/08/International-Trade-Update-Executive-Order-Issued-Restricting-U.S.-Investments-in-Chinese-Technology.pdf"> PDF</a> format.</strong></p>

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SmarTrade

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Francesca M.S. Guerrero

Samir D. Varma

Senior Legislative and Regulatory Policy Advisor

Scott E. Diamond

Associate

Aaron C. Mandelbaum

International Trade

Executive Order Issued Restricting U.S. Investments in Chinese Technology; Treasury Seeks Public Comment on Implementation