Russia’s invasion of Ukraine has created a new era of economic statecraft, with enthusiasm for sanctions soaring in Washington, DC and across Europe. United States President Joe Biden has made clear that technology export restrictions will be the tip of the spear against great power rivals such as Russia and China, at least for his administration.Yet, while the overall amity among Western and allied countries has seemed robust since the Russian invasion, cracks are appearing in one particular area for Biden: the US targeting of China’s semiconductor industry.In recent months, the US has moved into a more aggressive sanctions posture regarding China. The Biden administration unveiled a dense but sweeping set of restrictions on semiconductor technology exports to China in October.
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