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US Congress Expected to Pass Bill Restricting CN Biotech Firms from Receiving US Govt-funded Contracts
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The US Congress is poised to pass a bipartisan-supported bill aimed at preventing certain Chinese biotech companies from obtaining government-funded contracts, according to Bloomberg. The bill also authorizes the government to prohibit US investments in China's AI and advanced computing sectors. The current Biosecure Act targeting Chinese biotech firms, along with the FIGHT China Act targeting US investments in military application technologies, have both been incorporated into the latest version of the National Defense Authorization Act. However, the National Defense Authorization Act does not include a clause opposed by Nvidia (NVDA.US), which requires US chip companies to prioritize selling AI chips to US customers before selling them to China. AASTOCKS Financial News Website: www.aastocks.com |
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