Biden issues new rules to cut off microchip supply to China

The new rules, importantly, won't apply to foreign makers of chipmaking equipment, including leading firms in the Netherlands and Japan. But the administration's second rule could potentially address that by making it easier for BIS to put companies on its corporate blacklist — called the entity list — if their home governments demonstrate "sustained lack of cooperation" with U.S. trade policy. "We recognize that the unilateral controls we're putting into place tomorrow will lose effectiveness over time if other countries don't join us," said a senior Biden administration official, who spoke anonymously to preview the new rules on Thursday night….