China hits back in the chip war, imposing export curbs on crucial raw materials | CNN Business

Gallium and germanium will be subject to export controls starting August 1 “to protect national security and interests,” China’s Ministry of Commerce said in a statement Monday. Exporters of these raw materials will need to apply for “special permission from the state” to ship them out the country, the statement said. Gallium and germanium are used in a variety of products, including computer chips and solar panels.

The new rules mean that ASML\n \n , Europe’s largest tech firm, will need to apply for export licenses for products used to make microchips. Japan and the United States have also taken steps to limit Chinese companies’ access to chips and chipmaking equipment. Italy last month imposed several curbs on Pirelli’s biggest shareholder, Sinochem, to block the Chinese government’s access to sensitive chip technology.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China is lining up a Harvard-trained economist as its next central bank chief | CNN BusinessChina has named an economist who studied at Cambridge University and Harvard University to a key political post at its central bank that could position him to eventually replace governor Yi Gang.
Source: cnni - 🏆 326. / 59 Read more »

Tesla smashed it last quarter but China's BYD did even better | CNN BusinessBYD outpaced Tesla in the second quarter as the Chinese carmaker posted record sales of hybrid and electric vehicles.
Source: cnni - 🏆 326. / 59 Read more »

Gas Prices Fall Ahead of Fourth of JulyMillions of people who will travel by car for the Fourth of July will benefit from much lower gas prices than last year. See potential biases and similarities in reports from cnnbusiness, foxbusiness and wsj:
Source: AllSidesNow - 🏆 572. / 51 Read more »