US restricts trade with a dozen more Chinese technology firms
America: The Government adds more Chinese companies to its restricted trade list, raising foreign policy and national security concerns.
According to Washington, some of the firms are assisting in developing the Chinese military’s quantum computing programme. This take is increasing tension between America and China over the status of Taiwan.
Trade was among part of the issues brought to light and discussed at a virtual summit between the leaders of China and the US countries. Eight Chinese-based technology firms were added to the Entity List for their supposed role in the assistance of the Chinese military’s quantum computing efforts.
This entity list has widely been used for national security reasons since the Trump Government. According to the US Commerce Department also, 16 entities operating in China and Pakistan were added to the list due to their involvement in “Pakistan’s unsafeguarded nuclear activities or ballistic missile program.” Potential suppliers to firms on the list will now need to apply for a licence before they can sell to them, with applications likely to be denied.
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