President Joe Biden is extending a Trump-era national emergency this week, which prohibits U.S. companies or individuals from investing in companies linked to China’s military.
Then-President Donald Trump issued Executive Order 13959 in November 2020, citing threats to national security. The order declared a national emergency in order to allow for a halt to investments in companies with ties to China’s military.
Biden later expanded on the order in June 2021 with Executive Order 14032, which prohibited U.S. investments in companies affiliated with China’s military or surveillance industries.
Biden’s latest order will extend the national emergency regarding investment in China’s military and surveillance companies by one year beyond its previously scheduled end date of Nov. 12.