Lawmakers pledge to double down on Biden’s new China investment ban

News Snapshot:

Capitol Hill lawmakers from both parties immediately pledged to go further in the coming months after President Biden announced his effort to prohibit Americans from investing in some Chinese companies. The president’s executive order was announced Wednesday and looks to block American capital from heading to specific Chinese semiconductor, quantum computing and artificial intelligence companies after a public review process. Biden’s team emphasized during Wednesday’s rollout that the rules would be narrowly tailored to technology with military applications while minimizing broader economic impacts. But China reacted fiercely Thursday and accused Washington of trying to block its development. China’s Foreign Ministry...