China has immediately retaliated against the US following new export curbs that the Biden administration announced Monday, which restrict a wider range of Chinese businesses from accessing any foreign products that include even a single US-made chip.

On Tuesday, China's Ministry of Commerce punched back, announcing a ban that takes effect immediately on "exports of 'dual-use items' related to gallium, germanium, antimony, and superhard materials to the US," Reuters reported. Such "dual-use items" cover goods and technologies used for civil or military purposes, while the rare-earth metals are critical to tech manufacturing.

"In principle, the export of gallium, germanium, antimony, and superhard materials to the United States shall not be permitted," China's ministry said.

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Joe Biden's final move to stop China from racing ahead of the US in AI may be too little too late, reports say.

On Monday, the Biden administration announced new export controls, perhaps most notably restricting exports to China of high-bandwidth memory (HBM) chips used in AI applications. According to Reuters, additional export curbs are designed to also impede China from accessing "24 additional chipmaking tools and three software tools," as well as "chipmaking equipment made in countries such as Singapore and Malaysia."

Nearly two dozen Chinese semiconductor companies will be added to the US entity list restricting their access to US technology, Reuters reported, alongside more than 100 chipmaking toolmakers and two investment companies. These include many companies that Huawei Technologies—one of the biggest targets of US export controls for years—depends on.

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