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Sen. Josh Hawley. Photo: Alex Wong/Getty Images

A bill announced Tuesday by Sen. Josh Hawley (R-Mo.) would make it harder for American companies to export major emerging technologies to China.

Why it matters: Technology, from AI to 5G wireless, has become a major bargaining chip in the broader tensions between the U.S. and China.

Details: The bill would require the president to restrict exports to China of any technology covered by the law, including...

  1. "Technology or intellectual property that would make a significant contribution to the military potential" of China.
  2. IP or technology that is required to guard the U.S. economy from "the excessive drain of scarce materials and to reduce the serious inflationary impact of demand from the People's Republic of China."
  3. Tech that the secretary of state says is being used by the Chinese government to violate human rights.
  4. Technology whose development is supported by the Chinese government or that falls under a broad list of covered industries, influencing artificial intelligence, semiconductors, quantum computing and robotics.

Our thought bubble: A broad range of products could be affected, though the restrictions it envisions, such as licensing, wouldn't necessarily ban the exports outright. If the bill picks up legislative steam and passes, the details of its implementation would be key.

Go deeper

Senate confirms retired Gen. Lloyd Austin as defense secretary

Photo: Greg Nash-Pool/Getty Images

The Senate voted 93-2 on Friday to confirm retired Gen. Lloyd Austin as secretary of defense. Sens. Mike Lee (R-Utah) and Josh Hawley (R-Mo.) were the sole "no" votes.

Why it matters: Austin is the first Black American to lead the Pentagon and President Biden's second Cabinet nominee to be confirmed.

House will transmit article of impeachment to Senate on Monday, Schumer says

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced that the House will deliver the article of impeachment against former President Trump for "incitement of insurrection" on Monday.

Why it matters: The Senate is required to begin the impeachment trial at 1pm the day after the article is transmitted.

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Private equity bets on delayed tax reform in Biden administration

Illustration: Brendan Lynch/Axios

In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.

Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.