8/12, 4:12 PM (Source: TeleTrader)
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US tightens export controls on chip technologies

United States Department of Commerce declared on Friday that it has decided to toughen export controls on advanced semiconductor technologies and gas turbine engines deemed critical to national security.

The new measure includes both gallium oxide and diamond because "devices that utilize these materials have significantly increased military potential," the Commerce Department said in a statement.

The move comes amid increasing concern about semiconductors and the global US position in this market. Earlier this week, United States President Joe Biden signed the CHIPS and Science Act into law, which will provide $52.7 billion in funding for US semiconductor industry output and another $200 billion for scientific research.

Baha Breaking News (BBN) / JG