Biden's New Export Crackdown on China's Chip Industry

The Biden administration is preparing to announce new export restrictions against China's semiconductor industry. This move may target up to 200 Chinese chip companies, making it difficult for them to receive goods from U.S. suppliers. The regulations aim to curb technological advances that could boost China's military.

The Biden administration is poised to escalate export restrictions against China's semiconductor sector, as reported by the U.S. Chamber of Commerce in an email to its members. Reuters has revealed that these restrictions could affect as many as 200 Chinese chip companies, barring them from receiving goods from U.S. suppliers.

The Commerce Department, responsible for overseeing U.S. export policy, intends to release these new rules by next Thursday, just ahead of the Thanksgiving break. The Chamber of Commerce and the Commerce Department have both declined to comment on the matter.

This move marks a continuation of Biden's strategy to limit China's technological progress amid concerns over potential military applications. Recent reports also suggest another set of regulations focusing on high-bandwidth memory chips is likely to be introduced next month.

(With inputs from agencies.)