The Commerce Department on Tuesday updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them.
The revisions come roughly a year after the export controls were first launched to counter the use of the chips for military applications that include the development of hypersonic missiles and artificial intelligence.
“These export controls are intended to protect technologies that have clear national security or human rights implications,” Commerce Secretary Gina Raimondo said on a call with reporters. “The vast majority of semiconductors will remain unrestricted. But when we identify national security or human rights threats, we will act decisively and in concert with our allies.”
The updates stemmed from consulting with industry and conducting technological analyses. There will now be a gray zone that will be monitored for chips that could still be used for military aims even if they might not meet the thresholds for trade limitations.
Chip exports can also be restricted to companies headquartered in Macao or anywhere under a U.S. arms embargo, preventing countries of concern from circumventing the controls and providing chips to China.
The updates also introduce new requirements that make it more difficult for China to manufacture advanced chips abroad. The list of manufacturing equipment that falls under the export controls has also been expanded, among other changes to the policy.
The export controls announced last year were a source of frustration for the Chinese government, which viewed the design and manufacturing of high-level semiconductors as essential for its economic and geopolitical goals. Raimondo has said the limits on these chips are not designed to impair China's economic growth.
In an August meeting, Raimondo and her Chinese counterparts agreed to exchange information about the export controls. But a senior administration official, insisting on anonymity to discuss the policy, said the U.S. government did not discuss with China the parameters of the revised export controls. China’s No. 2 leader, Premier Li Qiang, appealed for “concrete actions” by Washington to improve relations, a reference to Chinese pressure for changes in U.S. policy on technology, Taiwan and other issues.
Chinese government officials are scheduled to go to San Francisco in November for the Asia-Pacific Economic Cooperation summit.
President Joe Biden has suggested he could meet on the sidelines of the summit with Chinese President Xi Jinping, though a meeting has yet to be confirmed. The two leaders met last year following the Group of 20 summit in Bali, Indonesia, shortly after the export controls were announced.
According to the U.S. Department of Health and Human Services, more than 40 million people have had their personal health information exposed in data breaches this year alone. A number of these incidents have caused health care networks to crash for weeks. Founder and CEO of BlackCloak Chris Pierson, joined Cheddar to discuss more.
Rainmaker Games bills itself as a blockchain-based organization founded in the metaverse, built on a new type of gaming ecosystem called play-to-earn. The company announced a $6.5 million seed round after it was founded just this year. Rainmaker Games CEO and founder Will Deane joins Cheddar News' Closing Bell to discuss.
Analysts are all-in on tech giant Apple, issuing bullish ratings this week and calling it a 'safety blanket' and one of the best assets for investors in 2022. This comes as Apple edges closer to a $3 trillion market cap. Mario Stefanidis, Vice President at Roundhill Investments, joins Cheddar News' Closing Bell to discuss why analysts are bullish on the tech giant, how close the company is to hitting a $3 trillion market cap, and more.
Planet made its public debut on December 8, ringing the opening bell at the NYSE in honor of the occasion. With more than 200 satellites in orbit, the company operates the world's largest constellation of satellites, providing daily scans of the entire earth. This helps with everything from agriculture companies monitoring fields and crop health, to FEMA's disaster response, to marine protection programs. Will Marshall, co-founder and CEO of Planet, explains how this milestone will allow the company fulfill its mission of using space to help life here on Earth.
North Carolina is transitioning into an electric vehicle manufacturing hub, as Toyota plans to build its first North American lithium-ion battery plant. Machelle Baker Sanders, secretary of commerce for North Carolina, joined Cheddar to discuss the influx of tech-heavy businesses and what Toyota's 1,750 jobs mean for North Carolina's economy. Sanders said the carmaking giant's $1.29 billion project was contingent on it committing to align with the state's own climate goals for a greener future.
Just weeks after launching its IPO, Embark Trucks is looking to take trucking to the next level by establishing an autonomous truck lane between Houston and San Antonio, Texas. CEO Alex Rodrigues joined Cheddar's "Closing Bell" to talk about the company's expansion into the Lone Star State and the efforts taken to make the driverless vehicles safe for the shipping corridor. "I think the biggest thing you'll notice as a person driving on the road is that they're going to be a little bit more patient, a little bit more law-abiding because they don't have to get there under the same kind of time pressure," he said. "They don't have the hours of service limitations." He also explained that the lane itself isn't a segregated road but a digital route on an existing roadway for the vehicles to follow.
As the saying goes, one man's trash is another man's treasure. That's exactly what artist David Anasagasti, also known as Ahol Sniffs Glue, was thinking when he created his scavenger hunt during Art Basel. Nearly 100 winners who followed the clues were able to get their piece of art signed, plus an NFT minted artwork. Artist Ahol Sniffs Glue joins Cheddar News to discuss the event and his exhibit.
Instagram CEO Adam Mosseri faced a bipartisan Congressional grilling this week as the Senate inquired about safety practices for protecting the mental wellbeing of young people on the platform. Sen. Marsha Blackburn (R-Tenn.) joined Cheddar to talk about the hearing and how she was disappointed in Instagram coming unprepared with relevant information or documents. Blackburn also offered concern that the platform could continue with building a kids-only version despite having drawn significant opposition from the public.
If you were wondering what the most popular trends on Google were after a rollercoaster 2021, the search giant has released its annual trending list. Sports, politics, and "Squid Game" dominated the U.S. and global trends this year.
Ford Pro has teamed up with Salesforce to launch 'VIIZR.' a new software service designed to help small businesses and tradespeople succeed. The newly launched tool will help small businesses simplify commercial activities including invoicing, scheduling and managing requests, from one integrated, cloud-based platform. Ted Cannis, CEO, Ford Pro, joined Cheddar to discuss.
