New York company sanctioned, Washington tightens foreign real estate purchases near military bases

According to Reuters, the US Department of Commerce said on November 1 that the country had imposed a fine of $500,000 on New York-based GlobalFoundries for shipping chips to a company in China without permission.

The US sanctions GlobalFoundrie for shipping chips to China. (Source: Reuters)

In a statement, the ministry said GlobalFoundries shipped 74 shipments worth $17.1 million to a company blacklisted by the ministry's Bureau of Industry and Security.

Exports to companies on the list require a license, the Commerce Department added, but GlobalFoundries did not apply for one.

Also on November 1, Reuters reported that the US government has completed a new regulation expanding its authority to review foreign real estate purchases near US military bases for threats to national security.

The US is increasingly concerned about national security risks from Chinese-linked real estate purchases near sensitive military sites.

The Treasury Department 's rule, first proposed in July, adds nearly 60 military installations across 30 states to the review list (bringing the total to about 227 military installations) and would expand the powers of the Committee on Foreign Investment in the United States (CFIUS).

In late October, the US government announced a final set of regulations to control US investment in artificial intelligence (AI), semiconductors and other technologies in China.

The regulations, proposed by the US Treasury Department in June, are based on an executive order signed by President Joe Biden in August 2023.

The new regulation covers three main areas: semiconductors and microelectronics, quantum information technology, and certain AI systems.

The new regulation takes effect from January 2, 2025 and will be overseen by the Ministry of Finance's newly established Global Transaction Office.

These technologies are the foundation for the development of next-generation military, surveillance, intelligence and cybersecurity applications, the ministry said.

Paul Rosen, US Treasury Assistant Secretary for Investment Security, added that the regulation includes technologies such as advanced code-breaking computer systems or next-generation fighter jets.

Source: https://baoquocte.vn/cang-thang-my-trung-quoc-mot-cong-ty-tai-new-york-bi-trung-phat-washington-siet-giao-dich-mua-bat-dong-san-cua-nuoc-ngoai-gan-can-cu-quan-su-292263.html