US considers export restrictions on China for products made with US software: sources
The Trump administration is weighing a plan to limit a wide range of software-driven exports to China, including laptops and jet engines, in response to Beijing's latest round of rare earth export restrictions, according to a U.S. official and three individuals briefed by U.S. authorities.
While the plan is not the only option on the table, it would make good on President Donald Trump's threat earlier this month to bar "critical software" exports to China by restricting global shipments of items that contain U.S. software or were produced using U.S. software, News.Az reports citing foreign media.
On October 10, Trump said in a social media post that he would impose additional tariffs of 100 percent on China's U.S.-bound shipments, along with new export controls on "any and all critical software" by November 1 without further details. To be sure, the measure, details of which are being reported for the first time, may not move forward, the sources said.
But the fact that such controls are being considered shows the Trump administration is weighing a dramatic escalation of its showdown with China, even as some within the U.S. government favor a gentler approach, according to two of the sources.
U.S. stock indexes briefly extended losses on the news, with the S&P 500 down 0.8 percent and the Nasdaq 1.3 percent lower before paring their losses.
The White House declined to comment. The Commerce Department, which oversees export controls, did not respond to requests for comment.
A spokesperson for the Chinese embassy did not comment on the specific U.S. measures under consideration but said China opposed the U.S. "imposing unilateral long-arm jurisdiction measures" and vowed to "take resolute measures to protect its legitimate rights and interests" if the U.S. proceeds down what it views as a wrong path.
Similar news
