China condemns new US restrictions on chip exports, says Reuters.

China condemns new US restrictions on chip exports, says Reuters.

BEIJING (Reuters) – China has criticized tougher U.S. rules on semiconductor exports, saying they have created more trade barriers and more uncertainty in the chip industry.

The Biden administration last week revised rules aimed at making it harder for China to access U.S. artificial intelligence chips and chipmaking tools, part of a broader effort to hamper the Beijing’s chip manufacturing industry for national security reasons.

“The United States has expanded the concept of national security, arbitrarily revised rules and strengthened control measures. This has not only created more obstacles and imposed a heavier compliance burden on Chinese and American companies wishing to work together normally economically and commercially. but has also created enormous uncertainty for the global semiconductor industry,” a spokesperson for the Ministry of Commerce said, according to a statement.

The spokesperson, responding to a reporter’s question, said the US decision “seriously affects the mutually beneficial cooperation between Chinese and foreign companies and harms their legitimate rights and interests. China firmly opposes it “.

The United States imposed rules banning exports last October, and companies like Nvidia (NASDAQ:) and AMD (NASDAQ:) have been affected by the row.

“China is willing to work with all parties to strengthen mutually beneficial cooperation and promote the security and stability of the global semiconductor industry and supply chain,” the spokesperson said.

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