US Wields Export Controls Against Chinese Tech Giants

The US Commerce Department has expanded its export controls to 140 Chinese companies, mainly tech and chip manufacturers, in an effort to curb China's access to advanced technologies. This move, announced by Commerce Secretary Gina Raimondo, aims to limit what Washington sees as risks to national security.

The United States Commerce Department has taken a significant step to limit China's tech advancements by expanding export controls. The department has added 140 Chinese companies, primarily involved in chipmaking, to its “entity list,” severely restricting their access to U.S. technologies.

The rules, released on the U.S. Federal Register's website, reflect Washington's strategy to curtail China's capacity to produce advanced semiconductors domestically. Commerce Secretary Gina Raimondo stated that these restrictions aim to protect national security by hindering China's technological growth, particularly in military and AI applications.

This decision has sparked a response from China's Commerce Ministry, decrying it as economic coercion. Moreover, shares in Japanese and U.S. chipmakers surged following the announcement, showing the global economic impact of these regulatory changes.

(With inputs from agencies.)