In practice, despite trade wars and strict regulations, the United States has approved 94% of sensitive technology licensing applications.
At least that’s what the Wall Street Journal reported. He examined the number of technology goods that had been banned from being exported by the Ministry of Commerce and also halted before being shipped to a country like China. The US government previously announced that it would ban certain technologies that may be important to the country’s security. This concerns, for example, semiconductor manufacturing components and machines, artificial intelligence and space technology. The goods on the list must not fall into the hands of foreign powers that the United States does not trust (such as China), and companies that wish to export them to those countries need a special license to do so.
In practice, the US Department of Commerce issued 2,652 of these export licenses in 2020 for goods listed as technology sensitive. This is approval of 94% of requests. According to the Wall Street Journal, licenses are required for less than half a percent of the $125 billion in exports to China. So the vast majority of them are simply approved.
In cooperation with Data News
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