China To Retaliate vs. Planned U.S. High-Tech Investment Curbs

China is gravely concerned and firmly opposed to proposed US rules for curbing certain investments in China and reserves the right to take corresponding measures, the Chinese commerce ministry said, Ethan Wang, Albee Zhang, and Ryan Woo reported for Reuters.

The White House has imposed huge tariffs on electric vehicles (EVs) from China and demanded that ByteDance, the Chinese company that owns TikTok, divest from TikTok’s US unit. I Photo: ByteDance Facebook

The US should "stop politicizing and weaponizing economic and trade issues, and lift investment restrictions on China," the ministry said in a statement.

The White House has imposed huge tariffs on electric vehicles (EVs) from China and demanded that ByteDance, the Chinese company that owns TikTok, divest from TikTok’s US unit.

Washington issued on Friday draft rules for banning or requiring notification of certain investments in artificial intelligence (AI) and other technology sectors in China that could threaten US national security.

China’s military has benefited from industrial espionage in the US as its agents secured secret technologies for stealth submarines, stealth planes, and surface warships, with more than a dozen Chinese convicted for espionage by US courts.