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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 is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.