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China has banned exports of critical minerals like gallium and germanium to the US, escalating trade tensions amid ongoing restrictions from the Biden administration on technology exports to China. While the immediate economic impact may be limited, the bans could disrupt US industries reliant on these materials, particularly in semiconductors and electric vehicles. Experts warn that further restrictions could lead to significant economic repercussions and a deepening trade war between the two nations.
Semiconductors, crucial yet complex hardware, are at the center of escalating US-China tensions. While technology has rapidly advanced, signs suggest a potential slowdown, raising questions about the future of chip production. Insights from industry leaders and a visit to ASML"s advanced lithography system highlight the ongoing challenges in maintaining innovation.
China's exports have shifted, with the U.S. now accounting for less than 15% of total exports, down from nearly 18% in the 2010s. As Donald Trump threatens to impose higher tariffs, analysts expect China to respond with significant fiscal stimulus, potentially exceeding 10 trillion yuan, to bolster its economy amid a real estate slump and sluggish consumer spending. The upcoming National People's Congress meeting is seen as a critical moment for these economic strategies.
Chris Miller
People
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