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Beijing restricts exports of gallium and Germany in response to Washington's sanctions


December, 03 2024
watermark Economic news

China has imposed an outright ban on exports to the United States of a number of materials critical for the production of semiconductor components. The Ministry of Commerce of the People's Republic of China announced on Tuesday a ban on the export of gallium, germanium, antimony and superhard materials. In addition, Beijing plans to introduce stricter controls on the use of graphite products.


This decision was a response to new export control measures announced by Washington a day earlier against China. The Chinese Ministry of Commerce said in a statement that the United States «expanded the concept of national security, politicized and weaponized economic, trade and technological issues by abusing export control measures.»


To protect national security, China has decided to strengthen export controls on the supply of dual-use products to the United States. We are talking about materials used in the manufacture of chips, batteries, as well as components for military and communications equipment. Last year, Beijing already imposed restrictions on the export of gallium and germanium, which led to an increase in prices for these materials in Europe by almost half.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.