Washington: The Biden administration plans to allow a sweeping Trump-era rule aimed at combating Chinese technology threats to take effect next month, over objections from U.S. businesses, according to people familiar with the matter. One person familiar with the matter said administration officials have signaled to the business community that they won’t enforce the rule aggressively. That could soften the impact, although business representatives say the rule will still subject firms—especially smaller ones—to significant new compliance costs and uncertainty. Another person familiar with the matter said the administration has not said it would hold back in enforcing the rule. A Commerce Department spokesperson said the agency continues to accept public comment on the rule through March 22, adding that the rule becomes final then.

Source: Mint February 26, 2021 18:10 UTC