US proposes chip export restrictions to China

A bipartisan group of U.S. lawmakers has introduced legislation to further restrict the export of advanced computer chipmaking equipment to China. This proposed law targets companies like ASML and major Chinese chip manufacturers. The move aims to safeguard the United States' technological advantage in artificial intelligence by preventing China from acquiring critical manufacturing tools. It also seeks to ensure that companies in allied nations face similar export controls as their U.S. counterparts.