Major trade groups have asked the Commerce Department to nix a Trump-era rule continued by President Joe Biden that enables the government to block Chinese technology transactions.
Business groups and industry-leading technology companies have lined up in opposition of the rule, which was introduced on Jan. 19 and went into effect March 22, calling it overly broad and arguing it harms U.S. consumer interests, The Wall Street Journal reported Monday. The rule implements provisions of an executive order signed by former President Donald Trump in May 2019, giving the Commerce Department far-reaching power to block Chinese technology transactions deemed to pose a national security threat to the U.S.
