The Biden administration has warned China that additional export restrictions on AI chips and chipmaking tools to China are due early this month, per Reuters. This would be an update around the one-year anniversary of the initial unveiling of the measures on October 7, 2022.

The restrictions announced last October aimed to prevent US technology from being used to strengthen the Chinese military by limiting China's access to advanced AI chips and imports of the US' most advanced chipmaking tools.

Market reaction

This headline had little to no impact on the Australian Dollar’s performance against its rivals. At the press time, AUD/USD is losing 0.07% on the day to trade at 0.6358.