Tag: Embargoes and Sanctions

For Biden, a Subtle Shift in the Power Balance With China’s Xi Jinping

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When President Biden met President Xi Jinping on Wednesday on the edges of Silicon Valley, there was a subtle but noticeable shift in the power dynamic between two countries that have spent most of the past few years denouncing, undercutting and imposing sanctions on each other. For the first time in years, a Chinese leader desperately needed a few things from the United States. Mr. Xi’s list at the summit started with a revival of American financial investments in China and a break in the technology export controls that have,…

What’s at Stake in the President Biden-Xi Jinping Meeting

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Trying to set a floor under U.S.-China relations Nine months after the Chinese spy balloon controversy sent relations between Washington and Beijing to a new low, President Biden and the Chinese leader, Xi Jinping, will meet this week in San Francisco for face-to-face talks. The summit won’t end the standoff between the world’s biggest economies. But it’s a sign that Biden and Xi want to maintain ties, despite trade tensions, tit-for-tat sanctions and questions about the future of Taiwan — and business leaders will be hoping for some sign of…

Biden Hosts China’s Top Diplomat Ahead of Expected Xi Meeting

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President Biden met with China’s top diplomat on Friday to prepare for Mr. Biden’s planned meeting with President Xi Jinping next month as relations remain strained between Washington and Beijing. Amid cordial talk of cooperation between the United States and China, the official, Wang Yi, wrapped up a visit to Washington. During the three-day trip, the diplomat also met twice with Secretary of State Antony J. Blinken and with Mr. Biden’s national security adviser, Jake Sullivan. In all, the meetings lasted about 10 hours, U.S. officials said. Mr. Wang’s trip…

The Multimillion-Dollar Machines at the Center of the U.S.-China Rivalry

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They are smooth white boxes, roughly the size of large cargo vans, and they are now at the heart of the U.S.-Chinese technology conflict. As the United States tries to slow China’s progress toward technological advances that could help its military, the complex lithography machines that print intricate circuitry on computer chips have become a key choke point. The machines are central to China’s efforts to develop its own chip-making industry, but China does not yet have the technology to make them, at least in their most advanced forms. This…

U.S. Tightens China’s Access to A.I. Chips

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The Biden administration on Tuesday announced additional limits on sales of advanced semiconductors by American firms, shoring up restrictions issued last October to limit China’s progress on supercomputing and artificial intelligence. The rules appear likely to halt most shipments of advanced semiconductors from the United States to Chinese data centers, which use them to produce models capable of artificial intelligence. More U.S. companies seeking to sell China advanced chips, or the machinery used to make them, will be required to notify the government of their plans, or obtain a special…

Diesel Prices Could Keep Inflation High

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Inflation has been easing around the world. But what happens next could depend partly on the cost of diesel, a wild card that few analysts have been able to predict well. Higher gasoline prices — lit up on giant signs on streets and highways — are typically the most visible, visceral reminder of inflation to consumers. But analysts say diesel can have a bigger impact on inflation because the fuel powers trucks, industrial machinery and agricultural equipment. The prices of heating oil and jet fuel are also closely connected to…

U.S. Seized Iranian Oil Over Smuggling Incident That Escalated Tensions in Gulf

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The United States government has seized nearly one million barrels of Iranian crude oil that it says was being smuggled to China in violation of U.S. sanctions against Iran, after it raised the threat of prosecution to get the tanker brought to American waters, newly unsealed court papers show. The seizure of the oil from the vessel, the M/T Suez Rajan, is part of a larger and shadowy conflict with Iran. After the tanker began to steam toward the United States last spring, Iran’s Revolutionary Guards Corps seized two oil…

At BRICS Summit, Putin Tries to Rally Support

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The five-nation BRICS summit is focused on whether to expand the club and how to be a counterweight to Western powers, but the meeting opened in Johannesburg on Tuesday in the shadow of Russia’s invasion of Ukraine, with President Vladimir V. Putin attempting to rally the members via video to Moscow’s side. In a speech to fellow leaders of the Brazil, Russia, India, China and South Africa group, Mr. Putin blamed the West for Russia’s exit from an agreement on Ukrainian grain exports that had helped stabilize global food supplies…

When Great Power Conflict and Climate Action Collide

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Produced by ‘The Ezra Klein Show’ The global decarbonization effort is colliding headfirst with the realities of great power politics. China currently controls more than 75 percent of the world’s electric vehicle battery and solar photovoltaic manufacturing supply chains. It also processes the bulk of the so-called critical minerals, like lithium, cobalt and graphite, that are essential to building out clean energy technologies. There is no clean energy revolution without China. What would happen if China decided to weaponize its clean energy resources in the same way Russia recently weaponized…

Saudi Arabia to Extend Oil Production Cut by a Month

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In a move to support oil prices, Saudi Arabia said Thursday it would extend its decision to cut oil production by one million barrels a day for another month, to September. Oil prices have recovered strongly in recent weeks partly because of smaller stockpiles of fuel in the United States, but China’s tepid economic recovery has kept oil prices under pressure for most of the year. Saudi leaders need oil prices to stay high because the money from energy sales pays for government spending and ambitious plans to diversify the…