💨 Abstract

The U.S. Commerce Department is set to impose significant fines on companies for illegally shipping technology to countries like China, as per a top department official who left last month, Matthew Axelrod. Axelrod, who worked on export enforcement during the Biden administration, signed off on a $300 million penalty on Seagate Technology in 2023 for shipping hard drives to Huawei.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖