As the United States considers new restrictions, China is restricting chip exports

China has announced that it will restrict exports of rare metals used to make semiconductors because of national security concerns.
Chinese exporters will need approval to ship certain gallium and germanium metal products overseas from August 1 to "safeguard security and national interests," the Ministry of Commerce and China Customs said in guidelines issued on Monday.
The news comes as the United States is reportedly considering new restrictions on the export of advanced chips to China.
Gallium is designated by the European Union as a key raw material for the production of photovoltaic panels for integrated circuits, leds and solar panels.
Germanium is used to make optical fiber and infrared camera lenses.
According to the European Commission, China produces about 80 percent of the world's rare metals.
In recent years, the geopolitical rivalry between China and the United States has been intense, with the two sides taking tit-for-tat measures in semiconductors and other key technology areas.
Washington has blacklisted dozens of Chinese companies in an effort to deny them access to U.S. chips and other cutting-edge technology that it says could be used to undermine U.S. national security.
The United States has also urged Allies and partners to impose restrictions on China's technology industry, while the Netherlands will impose new export restrictions targeting China later in 2023.
Beijing accuses Washington of trying to curb Chinese innovation to maintain U.S. dominance in the tech industry.