U.S. Imposes New Export Restrictions on Chinese Firms

The Biden administration plans to announce new export restrictions on China, potentially targeting up to 200 Chinese chip companies. These firms could face inclusion on a trade restriction list that restricts U.S. supplier shipments. Both the U.S. Chamber of Commerce and Commerce Department have refrained from commenting.

The Biden administration is poised to introduce new export restrictions on China, according to information from the U.S. Chamber of Commerce.

These impending regulations could impact up to 200 Chinese chip companies by placing them on a trade restriction list. This would limit their ability to receive shipments from U.S. suppliers.

The U.S. Chamber of Commerce, which communicated this policy shift to its members via email, and the U.S. Commerce Department have declined to provide further comments on the situation.

(With inputs from agencies.)