What's happened
On December 3, 2024, the US Commerce Department added 140 Chinese chip-related firms to a trade blacklist, escalating restrictions on China's semiconductor industry. This move aims to hinder China's technological advancements amid ongoing geopolitical tensions. Chinese firms claim they are prepared for the impact, citing increased localization efforts.
Why it matters
What the papers say
According to the South China Morning Post, the US Commerce Department's latest sanctions target firms deeper in China's semiconductor supply chain, including Naura Technology Group and AMC Research. Citic Securities noted that the market has prepared for these restrictions, suggesting limited short-term impact. Bloomberg reported that the Department of Commerce blacklisted 140 Chinese entities, emphasizing the US's commitment to curbing China's technological advancements. The Guardian highlighted that these measures are part of a broader strategy to address national security concerns regarding China's military capabilities.
How we got here
The US has progressively tightened export controls on China since 2022, focusing on semiconductor technology due to national security concerns. Recent sanctions target deeper levels of China's semiconductor supply chain, impacting key players and their ability to access Western technologies.
Common question
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China, officially the People's Republic of China, is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019.
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Huawei Technologies Co., Ltd. is a Chinese multinational technology company headquartered in Shenzhen, Guangdong. It designs, develops, and sells telecommunications equipment and consumer electronics.
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Timothy Donald Cook is an American business executive, philanthropist and industrial engineer. Cook is the chief executive officer of Apple Inc., and previously served as the company's chief operating officer under its cofounder Steve Jobs.
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
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Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.
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Nvidia Corporation is an American multinational technology company incorporated in Delaware and based in Santa Clara, California.
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Joseph Robinette Biden Jr. is an American politician who is the 46th and current president of the United States. A member of the Democratic Party, he served as the 47th vice president from 2009 to 2017 and represented Delaware in the United States Senate
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The United States of America, commonly known as the United States or America, is a country mostly located in central North America, between Canada and Mexico.