On Monday, United States said it would impose new rules and restrictions on exports to China restricts semiconductor production equipment and other latest technologies to goes in the wrong hands.
According to new rules, U.S. companies will require licenses to sell certain items to China’s companies that support the military. Even the companies that sell other products also need licenses.
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Via: aljazeera.com
The new rules come as relations between China and the United States have worsened due to the Coronavirus pandemic.
On Tuesday, the new rules, which were posted for public inspection, will be published on the Federal Register. It could hurt the sales of civil aviation parts and components as well as the semiconductor industry to China.
Commerce Secretary Wilbur Ross said in a statement,
“It is important to consider the ramifications of doing business with countries that have histories of diverting goods purchased from U.S. companies for military applications.”
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He added,
“Certain entities in China, Russia, and Venezuela have sought to circumvent America’s export controls, and undermine American interests in general, and so we will remain vigilant to ensure U.S. technology does not get into the wrong hands.”