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Over 30 Chinese Companies To Be Trade Blacklisted By U.S.

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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.

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.

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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Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

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