-0 C
London
Thursday, November 21, 2024
HomeNewsU.S. Tightens Chip Export Controls to China

U.S. Tightens Chip Export Controls to China

Date:

Related stories

Gazprom Maintains Stable Gas Deliveries to Europe, Sending 42.3 Million m³ on Monday

Brussels, October 14 (FinanceFlashNews.com) – Gazprom, Russia’s gas producer,...

Markets Anticipate Faster ECB Rate Cuts as Eurozone Inflation Falls

Frankfurt, October 14 (FinanceFlashNews.com) – Financial markets are predicting...

Tax Hike in France Will Hurt Investments, Warns Stellantis CEO

Paris, October 14 (FinanceFlashNews.com) – The French government's plan...

Finland’s Inflation Drops to Lowest Level in Nearly Four Years

Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland...

Moody’s Downgrades Belgium’s Credit Outlook to Negative

Brussels, October 13 (FinanceFlashNews.com) – Moody's Ratings downgraded Belgium’s...

Washington, March 31 (TASR) – The Biden administration on Friday (March 29) revised rules restricting the export of American artificial intelligence (AI) chips and chipmaking tools to China. The aim is to make it harder for China to access this key technological know-how and slow its technological development.

New rules take effect April 4.

Extensive expansion of restrictions:

The new 166-page rules expand existing export restrictions and clarify that they also apply to laptops containing AI chips. The U.S. Commerce Department, which is responsible for export control, said it will continue to update and refine restrictions on technology shipments to China.

Reasons for the revised rules:

  • National security concerns: The U.S. is concerned that China could use technological advances in AI to strengthen its military and threaten U.S. interests.
  • Slowing China’s technological development: The U.S. is trying to maintain its technological lead over China and prevent it from becoming a dominant force in AI.

Criticism from China:

The Chinese government criticized the revised rules as “unreasonable and discriminatory.” It argues that these rules will damage the global supply chain and disrupt international technology cooperation.

Impact on the technology sector:

The revised rules are likely to impact American technology companies that export chips and chipmaking tools to China. These companies will need to apply for a license to export these products to China, which could delay the process and increase costs.

Future of US-China technology relations:

The revised rules are another sign of the deteriorating technological relationship between the US and China. It is difficult to predict how these relations will develop further, but tensions are likely to persist.


Source: TASR, Reuters

Financeflashnewshttps://financeflashnews.com
This article was written by the editorial team of Financeflashnews. We strive to provide you with accurate and up-to-date information from the world of finance and investment. If you find any errors in the article, please let us know at corrections@financeflashnews.com. Your feedback is valuable to us and will help us improve the quality of our content.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories