U.S. considers banning key exports to Chinese chipmaker SMIC - WSJ
Reuters
Published Dec 09, 2021 11:27PM ET
Updated Dec 10, 2021 12:20AM ET
(Reuters) - U.S. officials are considering discussing a Defense Department proposal this month to close regulatory loopholes that have allowed Chinese chipmaker SMIC to buy critical U.S. technology, the Wall Street Journal reported on Thursday.
Some Commerce Department officials are trying to block the Defense Department's proposal, the Journal added, citing people familiar with the matter.
Semiconductor Manufacturing International Corp (SMIC) was added to a U.S. blacklist last year that denies it access to advanced manufacturing equipment from U.S. suppliers due to its alleged ties to China's military, claims that the company rejects.
SMIC, China's largest contract chipmaker, did not immediately respond to a request for comment on the report.
In the coming months, U.S. officials are also considering adding more Chinese technology companies to the Commerce Department's entity list and to the Treasury list banning U.S. investment, the Journal added.
On Wednesday, the U.S. House of Representatives passed legislation to ban imports from China's Xinjiang region over concerns about forced labor.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.