The US is anticipated to intensify restrictions on China, signaling a deepening rift between the two economic powerhouses amid a potential TikTok ban in the country. 

US and China's 'Decoupling'

Steven Okun, CEO of APAC Advisors, told CNBC about the escalating "decoupling" between the US and China, indicating a potential expansion of curbs to check competition from China and safeguard American interests.

"The decoupling is really in full force... The question is to what extent and how broad will it be," Okun told the outlet. 

The recent advancement of a bill by lawmakers, with a unanimous 50-0 vote, underscores the growing scrutiny facing Chinese tech companies, particularly on ByteDance, the owner of the popular video-sharing app TikTok. 

The bill mandates ByteDance to divest TikTok or face a potential ban in the US, citing national security concerns.

READ NEXT: Donald Trump Thinks TikTok Ban Will Give Facebook More Power, Condemning it as 'Enemy of the People'

US Curbs on Chinese Companies

The US has been increasingly assertive in confronting Chinese companies across various sectors, including semiconductors, electric vehicles (EVs), and biotechnology. Okun suggested that future restrictions could extend to renewable energy and biotech sectors.

With declining US vehicle exports and fears of Chinese dominance in the electric vehicle market, the auto industry has emerged as a focal point of concern.

US Energy Secretary Jennifer Granholm warned that China could overshadow US industry efforts in electric vehicles, raising apprehensions about national security implications.

Against this backdrop, the White House has initiated investigations into the national security risks posed by Chinese vehicle imports amid fears of data security breaches and espionage.

China has denounced the US measures as part of a broader effort to suppress its economic growth, with Chinese Foreign Minister Wang Yi condemning what he perceives as unfair practices aimed at restricting China's access to critical technologies. 

READ MORE: New Legislation Threatens TikTok Ban in the US - ByteDance Given Five-Month Ultimatum