The Biden administration is intensifying the technological standoff with China by imposing stricter export controls on specific semiconductors, notably advanced artificial intelligence chips. The US Commerce Department has introduced new regulations that limit the export of these chips to China and extend these restrictions to 21 other nations under arms embargoes, such as Iran and Russia. These measures are designed to obstruct China’s acquisition of advanced computing chips for military and weaponry applications, excluding chips used in phones, video games, and electric vehicles. This move has resulted in a decline in the stock prices of prominent American chip manufacturers, including Nvidia, Intel, and AMD. China has voiced criticism of the new rules, while the US has emphasized its commitment to national security and its efforts to impede China’s military progress. The ongoing tech rivalry between the US and China has also encompassed constraints on sales of chipmaking equipment and exports of vital semiconductor materials. The US Semiconductor Industry Association has called for enhanced collaboration with allies to safeguard the US semiconductor sector. European firms like ASML are currently assessing the ramifications of these rules, which may impact their business with China. Additionally, the US Department of Commerce has included 13 Chinese entities on a list of firms prohibited from doing business with US companies due to national security concerns, citing their involvement in the development of advanced computing chips.