Yellen Holds ‘Frank’ Discussion With Chinese Envoy as Beijing Curbs Metal Exports
Treasury Secretary Janet Yellen met with China’s ambassador on Monday amid an intensifying chip war between the United States and China as Beijing imposed new restrictions on metal exports.
China’s Ministry of Commerce said Monday that items related to gallium and germanium, which are crucial to making semiconductors, will be subject to export controls starting Aug. 1 in order “to safeguard national security and interests.”
Exporters of the two metals will need to apply for licenses and provide certificates, as well as details of the end-users of the items, if they want to ship the metals out of the country, according to the ministry….