Economy

US weighs blacklisting top Chinese chipmaker

US weighs blacklisting top Chinese chipmaker”

The chipmaker noted that it has maintained "long-term strategic partnerships with multiple USA -based semiconductor equipment suppliers" and will keep open to communication with the US government agencies "in the hope of resolving potential misunderstandings", even though it is in "shock and perplexity to the news".

Shares in China's Semiconductor Manufacturing International Corp (SMIC) tumbled on Monday in response to reports of potential sanctions against the company from Washington. It was not clear whether the other agencies supported the plan.

Shares of Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC) fell as much as 15.2 per cent to HK$20.02, the lowest since June 16, after a U.S. official said it was considering adding the Chinese firm to a trade blacklist.

SMIC is China's top semiconductor fab, and the closest domestic counterpart to Taiwan Semiconductor Manufacturing Co Ltd, the world's most advanced maker of chips.

SMIC is just the latest Chinese tech company to come under attack by the Trump administration, which has already placed companies such as phone-maker and high-speed internet provider Huawei, phone-maker ZTE and broadband internet and data control center operator Dr. Peng Telecom on the list, alongside dozens of others. It has sought to build out foundries for the manufacture of computer chips that can compete with TSMC. It said SMIC products are "solely for civilian and commercial end-users and end-uses". SMIC is one of Huawei's manufacturers.

More news: Trump blasts media, Democrats over report he disparaged USA troops

Industry sources say placing SMIC on the list could impact US companies.

Residents wearing mask to protect themselves from contracting the coronavirus pass by a Chinese military propaganda display in Beijing on Wednesday, Aug. 26, 2020.

While the Pentagon official did not outline the reasons for the action, SMIC's relationship to the Chinese military is under scrutiny, another United States official and two former officials briefed on the matter said.

The administration has increasingly trained its focus on Chinese companies that bolster Beijing's military.

The U.S. could be tightening the screws on China's top chipmaker. The designation gives President Donald Trump the authority to place them on an even tougher blacklist but so far no action has been taken.



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