China has imposed export restrictions on 10 U.S. companies, including two involved in rare earth mining, in retaliation for the Pentagon adding Chinese tech giants to its watch list of military-linked firms. The controls prohibit the export of dual-use items to the American firms and apply to goods of Chinese origin held by entities and persons in other countries.The restrictions may be largely symbolic as the companies work closely with the U.S. Defense Department and likely have little to no business in China. Earlier this month, the Pentagon’s 1260H list of Chinese tech firms linked to China’s military modernization was updated to include electric-car makers BYD and NIO. Search engine and mapping service provider Baidu and the e-commerce giant Alibaba, both of which are developing artificial intelligence models, were also added to the watch list. Who do you think will win the trade wars ?
