Policy Briefing — EO 14105 on outbound investment in sensitive technologies
President Biden signed Executive Order 14105 on 9 August 2023, directing Treasury to restrict U.S. outbound investments in advanced semiconductors, quantum, and AI technologies tied to countries of concern, launching a new national security screening regime.
On 9 August 2023 the White House issued Executive Order 14105, instructing the Treasury Department to develop regulations that prohibit or require notification for certain U.S. investments in advanced semiconductors, quantum information technologies, and artificial intelligence involving countries of concern. The order aims to prevent capital and expertise from supporting foreign military and surveillance capabilities.
Treasury simultaneously released an Advance Notice of Proposed Rulemaking seeking input on transaction scope, covered foreign persons, and compliance obligations. Investors and technology companies should track rulemaking to prepare governance controls, deal reviews, and partner diligence aligned to the forthcoming program.
- Executive Order 14105 outlines the outbound investment program objectives and covered technology categories.
- Treasury press release announces the EO and ANPRM, signaling future notification and prohibition requirements for investors.
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