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Biden Administration to Unveil New Rule on Semiconductor Equipment Exports to China, Exempting Japan, Netherlands, South Korea: Reuters

Jul 31, 2024, 06:28 AM

The Biden administration plans to unveil a new rule next month that will expand U.S. powers to stop exports of semiconductor manufacturing equipment from some foreign countries to China. The new rule, reported by Reuters, will exempt exports from companies in key U.S. allies, including Japan, the Netherlands, and South Korea. This move aims to curb China's access to advanced chipmaking technologies while maintaining strong trade relationships with allied nations. The news has already impacted the market, with companies like Tokyo Electron leading a rally in Asian chip stocks. Shares of $ASML were also reportedly unaffected by the upcoming U.S. export rules.