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ARTICLE · 21 AUGUST 2023

Biden Administration Takes First Step In Regulating U.S. Outbound Investments Into China

Baker Botts L.L.P.
Baker Botts L.L.P.
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On August 9, 2023, President Biden issued an Executive Order (the "Order") establishing an outbound investment review program that regulates certain U.S.-origin investments into foreign countries of concern, notably China.

GlobalGovernment, Public Sector
Paul T. Luther
Paul T. Luther
Alexander P. Reinert
Alexander P. Reinert
Cullen Richardson
Cullen Richardson
Matthew T. West
Matthew T. West

On August 9, 2023, President Biden issued an Executive Order (the "Order") establishing an outbound investment review program that regulates certain U.S.-origin investments into foreign countries of concern, notably China. A White House statement accompanying the Order provided that the objective of the Order is to prevent U.S. capital and expertise from accelerating the development of sensitive technologies and products in countries that develop them to counter U.S. national security interests. The Biden administration further noted that the Order is a "narrowly targeted action" that seeks to maintain the United States' "longstanding commitment to open investment."

The Order directs the Secretary of the Treasury to issue regulations implementing a program that (1) prohibits U.S. persons from undertaking transactions involving certain technologies and products that pose a particularly acute national security threat to the United States, and (2) requires U.S. persons

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