WASHINGTON, D.C. — The administration of President Joe Biden has finalized curbs on US investments in sensitive technologies like semiconductors in China that pose a threat to national security, the Treasury Department said on Monday.

The new rules, which take effect on Jan. 2 next year, will prohibit US-headquartered firms, citizens and permanent residents from engaging in transactions involving cutting-edge technology like semiconductors, artificial intelligence and quantum computing, the Treasury announced in a statement.