US Pauses Tech Export Curbs to China
(MENAFN) The administration under US President Donald Trump has reportedly suspended key limitations on technology exports to China, according to a news outlet on Monday, referencing individuals with direct knowledge of the development.
This temporary measure is said to be aimed at safeguarding delicate trade discussions and facilitating a potential meeting between Trump and Chinese President Xi Jinping later in the year.
Currently, the two leading global economies are attempting to ease rising trade frictions.
This week, the US and China entered their third phase of negotiations, convening a three-day summit in Stockholm.
The purpose of these discussions is to prolong an existing suspension of tariffs and mitigate the likelihood of further economic instability.
As per current and former officials mentioned by the news outlet, the Bureau of Industry and Security (BIS), a division within the US Commerce Department, has been directed not to implement stringent export rules targeting China.
The sources also highlighted that the US government is constrained in its ability to tighten these controls, largely due to apprehensions that Beijing might retaliate by restricting access to vital raw materials.
China, which leads the global production of rare-earth elements, earlier this year introduced export limitations on seven strategically important minerals as a countermeasure to US trade initiatives.
These resources are crucial to several major US industries, such as electronics manufacturing, sustainable energy, and defense systems.
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