A series of amendments for a $190 billion U.S. Senate bill aimed at countering China's technological challenge are in limbo, after business groups protested proposals intended to ensure that none of the money found its way to China or other U.S. rivals.
New regulations, or reviews of investments and deals in China, could disrupt the future operations of U.S. businesses in that country, including with respect to semiconductors and medical equipment. The bilateral trade deficit has run more than $100 billion a year since 2002.
Senators from both sides of the aisle want "guardrails," such as mandatory security disclosures and interagency reviews, to stop U.S. businesses from compromising national security by outsourcing critical technologies to China.