That followed the U.S. decision to impose export restrictions to curb China's access to key technologies used for artificial intelligence (AI). China has been the go-to for companies because it is able to export processed minerals at a lower cost than other countries. In Taiwan, a senior government official said China's restrictions on exports of gallium and germanium marked "a new wave of retaliation" in a "tit-for-tat approach." Some industry watchers believed China's metals restrictions could trigger short-term supply snags and higher prices. But Navitas Semiconductor Corp (NVTS.O), which makes chips that use a substance called gallium nitride, on Wednesday said it expects no adverse effects to its business from China's export controls.

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Persons: China's, Stewart Randall, Janet Yellen, Roy Lee, John Strand, Supantha Mukherjee, Hakan Ersen, Ben Blanchard, Brenda Goh, Kanishka Singh, Anne Marie Roantree, David Gaffen, David Gregorio Our Organizations: U.S . Department of Commerce, EV, Sweden's Ericsson, Ericsson, U.S, Treasury, Navitas Semiconductor Corp, Thomson Locations: SHANGHAI, STOCKHOLM, WASHINGTON, Beijing, U.S, China, United States, Shanghai, Intralink, Netherlands, Australia, Europe, Taiwan, South Korea, Japan, Korea, Copenhagen, Stockholm, Berlin, Taipei, Washington