The Biden administration's move to block exports of advanced computer chips to China is signaling a new phase in relations between the globe's two largest economies.
The Biden administration's move to block exports of advanced computer chips to China is signaling a new phase in relations between the globe's two largest economies — one in which trade matters less than an increasingly heated competition to be the world's leading technological and military power.upcoming meeting with Chinese President Xi Jinping on Monday
Xi responded to the export ban in his statement at last month's congress of the Chinese Communist Party, where he secured a third term as the country's leader. He pledged that China would move more aggressively to become self-reliant in producing semiconductors and other technologies. The U.S. and its allies famously deployed export controls against Russia after the February invasion of Ukraine, making it harder for Russian forces to be resupplied with weapons, ammunition, tanks and aircraft. As a result of those constraints, Russia has relied on drones from Iran and the U.S. has accused North Korea of supplying them with artillery.
He said that some of the GOP lawmakers who opposed the measure had bought into the arguments made by China. Allen said the Trump-era tariffs were large in terms of dollars, but they had almost no affect on the balance of trade. Nor were the import taxes strategic. The export controls imposed by the Biden administration would be a setback for Chinese technology that is already decades behind the U.S.
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