Economy

U.S. imposes restrictions on Chinese tech firm

U.S. imposes restrictions on Chinese tech firm”

In a statement, Commerce Secretary Wilbur Ross said, in any case of a foreign company acting against United States "national security interests", his Department "will take strong action to protect" them.

President Donald Trump's administration took action on Monday to cut off a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole intellectual property from USA semiconductor company Micron Technology Inc. Earlier in the year, the largest USA supplier of DRAM chips, Micron Technology Inc.

The U.S. Administration is planning to propose by early December tariffs on "all remaining Chinese imports" if an upcoming summit between the president and his Chinese counterpart Xi Jinping fails to reach an agreement on the sidelines of the G20 summit in Buenos Aires in November.

New rules: The US Commerce Department said in a statement issued yesterday that Jinhua's increasing capacity to produce memory chips threatens the long-term economic viability of US suppliers.

"This appears to be a dramatic expansion of the use of the entity list for economic purposes", he said, explaining that the entity list had traditionally been used to prevent imminent violations of United States export control laws.

However, the Commerce Department's export ban could end up limiting the Chinese company's development.

The move comes as the United States and China are locked in a standoff over trade, market access and the transfer of technology secrets. Jinhua sued the USA company the following month in a Chinese court and obtained an order blocking sales of some Micron products.

Fujian Jinhua had filed a countersuit against Micron in Chinese court in January.

UMC countersued in a Chinese court, accusing Micron of infringing its patents, leading to a temporary ban in July on sales of Micron's main products in China.

Calls to Fujian Jinhua's offices rang unanswered Tuesday and there was no immediate response to an inquiry made through their website. "Placing Jinhua on the Entity List will limit its ability to threaten the supply chain for essential components in our military systems", Secretary of Commerce Ross said.

China established Jinhua in February 2016 in a bid to make its own home-produced chips, with the firm investing 37 billion yuan ($5.6 billion) that year to build a production line.



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