The U.S. House of Representatives' Select Committee on the CCP held a hearing today on "The Biden Administration's PRC Strategy," discussing export controls, the bilateral trade deficit, and control of international organizations.

At a WTO meeting that was held on Thursday and Friday, governments raised concerns with Chinese export restrictions on semiconductor input materials, and China raised issues of its own with U.S./Japanese/Dutch semiconductor export restrictions and the EU Carbon Border Adjustment Measure (CBAM).

China's Ministry of Commerce and Customs agency jointly announced today that they will restrict exports of products and materials containing gallium and germanium, which are widely used to make semiconductors and electronics. The new rules become effective on August 1.

Today, the Dutch government announced new rules restricting exports of certain advanced semiconductor equipment, with Chinese semiconductor makers potentially hurt by the move.

The U.S. Commerce Department's Bureau of Industry and Security sanctioned 31 Chinese entities, as well as some entities in a number of third countries on the basis of their ties to the Chinese military, putting these companies under tighter export control rules.

China's Ambassador to Japan, Wu Jianghao, recently talked about "new problems, new risks, and new challenges, especially the U.S. factor" in the bilateral relationship, and warned against a lose-lose situation, and letting the U.S. be the "sole winner."

Following the Chinese government's May 21 decision to ban its critical information infrastructure operators from purchasing chips made by Micron, two key members of Congress called on the U.S. Commerce Department "to work with Japan and South Korea to ensure their companies do not take market