The US Department of the Treasury on Friday fleshed out a proposed rule that would restrict and monitor US investments in China for artificial intelligence (AI), computer chips and quantum computing, while the German economy minister in China yesterday said that the EU’s door is open for discussions regarding tariffs on Chinese exports.
Washington’s proposed rule stems from US President Joe Biden’s executive order in August last year regarding the access that “countries of concern” have to US dollars that fund advanced technologies, which the US government says would enhance their military, intelligence, surveillance and cyber capabilities. The order identified China, Hong Kong and Macau as countries of concern.
The proposed rule outlines the required information that US citizens and permanent residents must provide when engaging in transactions in the area, as well as what would be considered a breach of the restrictions.
Photo: Reuters
It specifically would prohibit US investors from funding AI systems in China that could be used for weapons targeting, combat and location tracking, among other military applications, said a senior Treasury official who previewed the rule for reporters on condition of anonymity.
The Treasury is seeking comment on the proposal through Aug. 4, and after that is expected to issue a final rule.
In Beijing yesterday, German Minister for Economic Affairs and Climate Action Robert Habeck told Chinese officials that proposed EU rules on Chinese goods are not a “punishment.”
Habeck’s visit to China is the first by a senior European official since Brussels proposed hefty duties on imports of Chinese-made electric vehicles (EVs) to combat what the EU considers excessive subsidies.
“It is important to understand that these are not punitive tariffs,” Habeck said in the first plenary session of a climate and transformation dialogue.
Countries such as the US, Brazil and Turkey had used punitive tariffs, but not the EU, he said. “Europe does things differently.”
Habeck said that for nine months, the European Commission had examined in great detail whether Chinese companies had benefited unfairly from subsidies.
“Common, equal standards for market access should be achieved,” Habeck said.
Meeting Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) Habeck said the proposed EU tariffs were intended to level the playing field with China.
“We will do everything to protect Chinese companies,” Zheng said.
Proposed EU import duties on Chinese-made EVs would hurt both sides, he added.
After his meeting with Zheng, Habeck spoke with Chinese Minister of Commerce Wang Wentao (王文濤), who said he would discuss the tariffs with EU Commissioner for Trade Valdis Dombrovskis yesterday evening via videoconference.
“What I suggested to my Chinese partners today is that the doors are open for discussions and I hope that this message was heard,” Habeck said in Shanghai later. “This opens a phase where negotiations are possible, discussions are important and dialogue is needed.”
Tropical Storm Usagi strengthened to a typhoon yesterday morning and remains on track to brush past southeastern Taiwan from tomorrow to Sunday, the Central Weather Administration (CWA) said yesterday. As of 2pm yesterday, the storm was approximately 950km east-southeast of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost point, the CWA said. It is expected to enter the Bashi Channel and then turn north, moving into waters southeast of Taiwan, it said. The agency said it could issue a sea warning in the early hours of today and a land warning in the afternoon. As of 2pm yesterday, the storm was moving at
DISCONTENT: The CCP finds positive content about the lives of the Chinese living in Taiwan threatening, as such video could upset people in China, an expert said Chinese spouses of Taiwanese who make videos about their lives in Taiwan have been facing online threats from people in China, a source said yesterday. Some young Chinese spouses of Taiwanese make videos about their lives in Taiwan, often speaking favorably about their living conditions in the nation compared with those in China, the source said. However, the videos have caught the attention of Chinese officials, causing the spouses to come under attack by Beijing’s cyberarmy, they said. “People have been messing with the YouTube channels of these Chinese spouses and have been harassing their family members back in China,”
UPDATED FORECAST: The warning covered areas of Pingtung County and Hengchun Peninsula, while a sea warning covering the southern Taiwan Strait was amended The Central Weather Administration (CWA) at 5:30pm yesterday issued a land warning for Typhoon Usagi as the storm approached Taiwan from the south after passing over the Philippines. As of 5pm, Usagi was 420km south-southeast of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost tip, with an average radius of 150km, the CWA said. The land warning covered areas of Pingtung County and the Hengchun Peninsula (恆春), and came with an amended sea warning, updating a warning issued yesterday morning to cover the southern part of the Taiwan Strait. No local governments had announced any class or office closures as of press time last night. The typhoon
The Central Weather Administration (CWA) yesterday said there are four weather systems in the western Pacific, with one likely to strengthen into a tropical storm and pose a threat to Taiwan. The nascent tropical storm would be named Usagi and would be the fourth storm in the western Pacific at the moment, along with Typhoon Yinxing and tropical storms Toraji and Manyi, the CWA said. It would be the first time that four tropical cyclones exist simultaneously in November, it added. Records from the meteorology agency showed that three tropical cyclones existed concurrently in January in 1968, 1991 and 1992.
RSS