The US has tightened measures against Chinese high-tech companies. Memory chip maker YMTC is prohibited from purchasing US goods without a special license that is difficult to obtain, the US Federal Gazette announced Thursday. Background is the concern that YMTC could pass on US technology to companies such as Huawei and Hikvision, which have already been subject to trade restrictions.
In addition, 21 Chinese companies in the AI chip sector will no longer receive technology made with equipment from the United States, wherever in the world these machines are located. Cambricon Technologies is also affected.
A statement from the US Department of Commerce says that the government in Beijing wants to end the separation between the military and civilian sectors. Protecting US national security therefore requires decisive action to block China’s access to advanced technology. There was initially no comment from the companies involved.
The Chinese embassy in the US accused the government in Washington of “blatant economic coercion” in the technology sector. This undermines business relationships between US and Chinese companies and threatens the stability of global supply chains. China has sued the US over export controls on chips at the World Trade Organization.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
