US tech companies banned from setting up factories in China
America banned technology companies from setting up factories in China for 10 years.
The ban would apply to companies receiving funds from the US government. The aim is to reduce the dependence of US business groups on China.
US Commerce Department officials say we want to ensure that companies receiving technology.
funding cannot compromise national security by allowing them to invest American money in China.
Companies that receive funding from the US government will not be able to work in China for the next 10 years to promote advanced technology.
The decision comes as the US government plans to give $53 billion to technology companies that make semiconductor chips.
The money will be given to technology companies to increase their production of semiconductor chips so that they don’t have to export from China.