The Archive — 2023
2023: capital joins the perimeter
Capital joined the perimeter — an outbound investment screening order — while BIS refined chip rules and a leaders' meeting at APEC set the floor. Goods trade contracted about 5% in both directions.
Outbound Investment Executive Order
A new order creates screening of U.S. investment flowing into Chinese semiconductors, quantum computing and artificial intelligence — the first time the United States systematically regulates capital exports, not just goods and technology.
Chip Controls Updated
BIS refines the October 2022 rules to close workarounds — denser memory chips, more equipment categories, new country-level licensing. Allied governments in Tokyo, The Hague and Seoul begin aligning their own controls.
San Francisco Summit
On the sidelines of APEC, the two presidents meet for the first time in a year and agree to resume military-to-military contacts, counter-narcotics cooperation and a dialogue on AI risk. Tariffs stay untouched, but the floor under the relationship holds.