Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

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.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
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.
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.