The US Treasury proposed a rule expanding scrutiny of American high-technology investments in China, Russia, Iran, Cuba and North Korea.
The policy builds on a 2023 executive order that restricted outbound capital in Chinese semiconductors, quantum computing and artificial intelligence.
Congress codified and broadened that program in December 2025 through legislation covering more technologies and additional countries of concern.
The new proposal would add hypersonic systems, supercomputing and biotechnology while preserving controls over strategically sensitive artificial intelligence.
It would generally apply to covered investments above $50,000, while excluding many ordinary financial transactions such as purchases of listed shares.
Supporters argue that capital can accelerate military-relevant capabilities as effectively as direct technology transfers and therefore requires security screening.
Companies and advisers would face more substantial compliance duties to determine ownership, technology exposure and whether a transaction falls within the rules.
Beijing rejected the approach as an excessive use of national security that discriminates against specific countries and disrupts legitimate commercial cooperation.
