US Commerce Department Says US Firmly Opposes Export Controls Announced By China On Gallium And Germanium; US Says Will Engage With Allies, Partners To Address Export Controls Announced By China
Portfolio Pulse from Benzinga Newsdesk
The US Commerce Department has announced its firm opposition to China's export controls on gallium and germanium. The US plans to engage with allies and partners to address these controls.
July 05, 2023 | 6:22 pm
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) could be impacted by the US opposition to China's export controls on gallium and germanium.
The US opposition to China's export controls could lead to trade tensions, which may negatively impact Chinese companies, and by extension, the FXI ETF which tracks these companies.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) could be impacted by the US opposition to China's export controls on gallium and germanium.
The US opposition to China's export controls could lead to trade tensions, which may negatively impact the US market, and by extension, the SPY ETF which tracks the S&P 500 index.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60