2. GOP senator's bill would crack down on China tech trade
Sen. Josh Hawley (R-Mo.) this morning announced a bill, seen first by Axios, that would make it harder for American companies to export major emerging technologies to China, David reports.
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 tech and intellectual property that...
- "[W]ould make a significant contribution to the military potential" of China.
- 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."
- Is being used by the Chinese government to violate human rights, per the secretary of state.
- Has its development supported by the Chinese government or that falls under a broad list of covered industries that include 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.