WSJ Tech News Briefing TNB Tech Minute: Trump Clamps Down on Investment in Chinese Tech Firms
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Dec 19, 2025 New U.S. rules are designed to screen investments in Chinese tech firms, with officials stating it's necessary for national security. In response, China criticizes these measures as excessive and harmful to investment. BioMarin Pharmaceutical is set to acquire Amicus Therapeutics for $4.8 billion, enhancing its capabilities in treating rare diseases. Meanwhile, high-speed trading firm Jump Trading faces a $4 billion lawsuit, accused of secretly supporting the collapse of Terraform Labs, a saga that dramatically impacted the crypto market.
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U.S. Outbound Investment Rules Tighten
- The U.S. now has statutory powers to screen and restrict outbound investment into Chinese tech firms developing dual-use tech.
- The law codifies previous executive actions targeting AI, quantum, and advanced semiconductors funding flows to China.
Beijing Warns Of Distorted Investment Flows
- A Chinese embassy spokesperson criticized the law as overstretching national security and said it would distort normal investment flows.
- That reaction highlights diplomatic pushback and Beijing's view that the measures politicize commercial ties.
BioMarin Expands Rare-Disease Portfolio
- BioMarin will acquire Amicus for about $4.8 billion to expand rare-disease treatments.
- The deal broadens BioMarin's portfolio into therapies for Fabry disease and Pompe disease, closing in Q2 2026.