The U.S. Commerce Department has added 31 Chinese entities to its so-called "Unverified List” and updated its export controls, aiming to "contain China's ability to purchase and manufacture high-end chips used in military applications." The move follows a series of other measures by the administration to squeeze China's chip industry while spurring U.S. competitiveness in the sector. Meanwhile, the Biden Administration has just released its latest National Security Strategy, which labels China as the "most consequential geopolitical challenge." Has the U.S. gone all out to cripple China’s high-end chip industry? Will the U.S. tactics achieve its intended goals?