China hits back at US decision to impose new restrictions

The Chinese Foreign Ministry has accused the US of violating the principles of free market economy

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US/CHINA: The Chinese government has hit back at the decision of the Biden administration to impose the latest restrictions on chip exports to China.

The Chinese Foreign Ministry said the rules violate the principles of fair competition and economic equality.

What are the new restrictions?

The Biden administration announced the latest wave of restrictions on chip exports to China amid concerns about a Chinese takeover.

The new restrictions include chipmaking tools and advanced chips, including two from Nvidia, a leading American technology company.

Nvidia said in a statement it will not be able to export two artificial intelligence chips – A800 and H800, it created for the Chinese market.

Why US is imposing the restrictions?

The Biden administration has repeatedly argued that it is imposing restrictions to prevent China from using cutting-edge technology in the military.

In response, the Chinese Foreign Ministry has accused the US of violating the principles of free market economy. 

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