Bitcoin price today: rises above $111k amid easing trade jitters; US CPI on tap
Investing.com -- The Trump administration is considering new curbs on software-linked exports to China, according to a Reuters report which cited a U.S. official and people briefed on the matter.
The plan could restrict global shipments of goods made with or containing U.S. software, from laptops to jet engines.
It would be a response to Beijing’s recent curbs on rare earth exports and follow President Donald Trump’s earlier threat to block “critical software” sales to China.
Trump had said on Oct. 10 that he planned to impose 100% tariffs on Chinese goods bound for the U.S. and add export controls on “any and all critical software” by Nov. 1, though he did not give details.
Reuters report added that the proposal may not move forward, but its consideration signals a possible escalation in tensions with China.
Some officials favour a softer line, while others support announcing the measure as leverage without enforcing it.
One person familiar with the discussions said the plan could cover a wide range of products because “everything imaginable is made with U.S. software.”
The plan is not the only option on the table, according to report.
The Dow Jones Industrial Average slipped 202 points, or 0.4%, the S&P 500 index fell 0.6%, and the NASDAQ Composite fell 1.1%.