U.S ‘saves’ tech from China; Biden admin's export rules, 31 firms blacklisted

The Joe Biden administration is clamping down on China's access to U.S' chip technology. The U.S announced sweeping new limits on the sale of semiconductor technology to China. Bloomberg report states that it was a step aimed at crippling Beijing’s ability to access critical technologies. 31 Chinese firms were blacklisted, added to an 'unverified' list by U.S Commerce Dept. China's top memory chipmaker YMTC and 30 other Chinese entities are among the list of companies that U.S. officials have been unable to inspect. Watch this video for more details.