Part of the continuing ramp up of the technology blockade and embargo on China. Done under Biden lest anyone doubt this is the chosen path of the entire US.
I once again re-iterate, the US is serious about decoupling from Chinese technology, from preventing the sales, spread, development of finished products and ensure that domain remains exclusively that of the anglo western imperialist order. They would like to entirely decouple from China to throw up a big wall on them and crush them with sanctions and propaganda but they can't in the near or medium-term so this is the solution. To suppress their development and movement up the value chain, to force them to remain a low value, low tech producer and grievously injure their economy in the process. All part of the plan for the new American century. All part of Pax Americana.
By doing it gradually and giving out money generously to companies they hope to force them to decouple, to deny China the latest technology such as chip-making and other things that they think give them a leg up but also to deny them a market in the west or ideally anywhere else to crush their development and ensure western profits and NSA backdoor spying via western technology can continue to enable their hegemony.
It is for this reason I'm not entirely ready to dismiss Trump's claimed planned of 100% tariffs on anyone who drops the dollar. While I doubt it would be implemented in quite that way, the west beyond Trump I believe has designs on the tall fenced in yard model. That is they want to create camps, they intend on pushing as many countries as possible into their camp using technology, dollar, media/cultural hegemony, and yes of course things like color revolutions, insurgencies, etc while punishing and making life in the other camp miserable and essentially bifurcating the world with the hope most of the world ends up within their fence for their exploitation and with time this allows them to crush the development of China, to reduce living conditions and to foment overthrow or fragmentation of China and Russia.