News Asia
Over 30 Chinese Companies To Be Trade Blacklisted By U.S.
(CTN NEWS) – BEIJING – Yangtze Memory Technologies (YMTC), a Chinese chip manufacturer, and 35 other Chinese companies would be added to a trade blacklist by the Biden administration, preventing them from purchasing specific American components.
According to the report, which cited a source familiar with the situation, the Chinese companies would be added to the U.S. Department of Commerce’s ‘Entity List’ as soon as this week.
The U.S. suppliers of a corporation included in the entity list must apply for a special license before sending even low-tech supplies.
China’s direction has changed, and we’re taking the steps necessary to address the full range of challenges it now presents. I sat down with @ForeignAffairs to discuss our strategy on China, CHIPS, and more. https://t.co/uy7lpGTc8a
— Secretary Gina Raimondo (@SecRaimondo) December 12, 2022
The U.S. Department of Commerce did not immediately respond to Reuters’ request for comment outside of business hours, while YMTC declined to comment.
In prepared remarks obtained by Reuters last month, an official from the U.S. Commerce Department stated that dozens of other Chinese businesses, including YMTC, were “at risk”.
Of being put under a trade ban as shortly as December 6.
Tensions with Beijing increased in October when 31 organizations, including YMTC, were added to a list of businesses that U.S. inspectors have been unable to inspect.
The Biden administration plans to place Chinese chip-maker Yangtze Memory Technologies (YMTC) and 35 other Chinese firms on a trade blacklist that would prevent them from buying certain American components, Bloomberg News reported on Tuesday. pic.twitter.com/Dxbiy5b4DS
— Startup Pakistan (@PakStartup) December 14, 2022
In October, the Biden administration also announced a comprehensive set of export prohibitions to halt Beijing’s scientific and military advancements.
One of its provisions barred China from purchasing specific semiconductor chips produced worldwide using U.S. machinery.
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