Friday, February 26, 2021

Biden To Let Trump-Era Rule Severely Regulating China Tech "Threats" Take Effect — Tyler Durden

Addressing the feared deep and lasting negative impact on the US economy itself, WSJ explains:
The rule could affect millions of American businesses, according to a Commerce Department estimate, potentially requiring them to get government clearance for purchases and deals involving sophisticated technology with what the regulation calls a "foreign adversary," or face potential unwinding of the deals or other enforcement.
Everything from sophisticated electronics, most especially computer components and iPhones, to camera equipment to vehicles, could potentially be impacted by a web of confusing regulations that could ensue.

Leading the charge against implementing the rule includes IBM, which was quoted in Bloomberg as saying, "By the Commerce Department’s own estimate, this rule would impose many billions of dollars in new compliance costs on millions of U.S. firms, including countless small businesses."...

Outcompeting China?