Treasury Proposes Rules for U.S. Deals Tied to Sensitive Foreign Tech

The U.S. Treasury Department proposed rules Thursday that would require notice for some transactions involving covered foreign persons and designated technologies and prohibit others, broadening a national security program for outbound U.S. investment. The technology categories include semiconductor technology and microelectronics, super intelligence (SI) systems — the draft’s term for AI systems — quantum information technologies, high-performance computing and supercomputing, and hypersonic systems. The draft would also add biotechnology to the program. The proposed country-of-concern list names China, Hong Kong and Macau, Cuba, Iran, North Korea and Russia. The underlying law also names Venezuela under the Maduro regime, but Treasury’s proposal says Venezuela does not meet that definition because the named regime no longer exists. Some transactions involving Venezuelan entities could still be covered under other provisions.

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