ExecutiveOrdersEO
Notice 14105NoticeTrump 47 · R Quiet signal

Presidential Notice 14105

Continuation of the National Emergency With Respect to the Advancement by Countries of Concern in Sensitive Technologies and Products Critical for the Military, Intelligence, Surveillance, or Cyber-Enabled Capabilities of Such Countries

President continues for one year the national emergency declared in Executive Order 14105 regarding U.S. outbound investment risks to countries of concern developing sensitive technologies for military, intelligence, surveillance, or cyber capabilities. The notice extends the emergency authority beyond its August 9, 2026 expiration date under the National Emergencies Act.

Federal Register Open PDF 91 FR 50659

Impact dates

  1. Continued national emergency expires unless extended again

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

SemiconductorsTechnology & softwareCritical minerals

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • ProtectiveDomestic producer — U.S.-based advanced technology firms face reduced competition from foreign-backed rivals in sensitive sectors due to restricted capital flows
  • AdverseImporter — U.S. entities seeking to invest in or acquire stakes in foreign technology companies in covered sectors face prohibited or notifiable transaction requirements
  • AdverseTrading-partner exporter — Countries of concern lose access to U.S. capital, intangible benefits (talent networks, market access, technical expertise) that accompany investment

Geographies

USCNTWKRJP

Exposure dates

  • — Continued national emergency expires unless extended again

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

ALBAlbemarleGOOGLAlphabetAAPLAppleDQDaqo New EnergyFCXFreeport-McMoRanINTCIntelQQQInvesco QQQ TrustMETAMeta PlatformsMUMicron TechnologyMSFTMicrosoftMPMP MaterialsORCLOracleSPYSPDR S&P 500 ETFSQMSQMTSMTSMCVALEVale

Confidence: high · Policy alerts

Key directives

  • Continue national emergency declared in Executive Order 14105 for 1 year beyond August 9, 2026
  • Publish notice in Federal Register
  • Transmit notice to Congress

Timeline

Immediate

  • National emergency authority continues without lapse
  • Existing outbound investment restrictions under EO 14105 remain in force

Near term (90d)

  • Continued enforcement of Treasury Department regulations implementing EO 14105
  • Potential Treasury updates to prohibited/notify transactions list

Long term

  • Sustained framework for U.S. outbound investment screening through August 2027
  • Ongoing structural decoupling pressure in critical technology supply chains

Risks & tensions

  • Extension maintains regulatory uncertainty for cross-border investment decisions
  • Treasury's implementing rules remain evolving; scope of 'countries of concern' and 'sensitive technologies' may expand
  • Potential friction with allied nations over extraterritorial investment controls
Presidential Notice 14105: Continuation of the National Emergency With Respect to the Advancement by Countries of Concern in Sensitive Technologies and Products Critical for the Military, Intelligence, Surveillance, or Cyber-Enabled Capabilities of Such Countries · Executive Orders