U.S. Treasury Secretary Janet Yellen expressed concern about China's new Export Controls on metals used in semiconductor manufacturing. Yellen stated that the Biden administration is evaluating the impact of these actions and emphasized the importance of building resilient and diversified supply chains. The U.S. has implemented measures to bolster American tech capabilities and limit China's access to advanced technology. Yellen clarified that actions taken to protect national security are not aimed at gaining economic advantage over China. China's Commerce Ministry announced an export ban on the metals gallium and germanium, but stated that the rules do not target a specific country.

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