section_path: Background/Biden administration restrictions
section_name: Biden administration restrictions
paragraph_text: Biden administration restrictions
  
  According to JPMorgan Chase, the effective rate of US tariffs on Chinese goods was between 0–5% in 2018 and climbed to around 20% by 2021, when President Joe Biden took office. The Biden administration did not withdraw Trump-era tariffs on Chinese imports and this rate remained steady throughout Biden's term.
  
  The Democratic administration introduced a number of new export limits and US investment bans for Chinese companies to protect US economic and military interests. In October 2022, the US Department of Commerce expanded sanctions after implicating 50 Chinese companies, including telecoms equipment maker Huawei in June 2021. Export controls were also introduced for chip maker Nvidia, Yangtze Memory Technologies (YMTC) and ChangXin Memory Technologies. Sanctions were expanded to include Chinese companies such as drone maker DJI and genomics company BGI Genomics, among others. South Korean telecom companies trading with the PRC were partially excluded from the new restrictions.
  
  On March 29, 2024, the Biden administration revised rules aimed at restricting China's access to U.S. artificial intelligence (AI) chips and chipmaking tools, including those from Nvidia, as part of efforts to address national security concerns over Beijing's tech advancements potentially aiding its military. Following Washington's announcement of restrictions on China's ability to manufacture advanced chips, the Chinese government has notified the US of its intention to ban exports to the US of certain key components used in semiconductor manufacturing. China and the US are competing for high-tech markets, each establishing its sphere of influence within the global high-tech landscape. The US is pursuing a decoupling from China to restrict its access to Western advanced technologies.