financetom
Business
financetom
/
Business
/
US urges allies to bar firms from servicing key chipmaking tools for China
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US urges allies to bar firms from servicing key chipmaking tools for China
Mar 27, 2024 9:02 AM

WASHINGTON (Reuters) - The United States is asking allies to stop domestic companies from servicing certain chipmaking tools for Chinese customers, a U.S. commerce department official said on Wednesday, as it ramps up efforts to hobble China's chipmaking capabilities.

"We are working with our allies to determine what is important to service and what is not important to service," said export controls chief Alan Estevez, speaking to reporters at an annual conference.

"We're pushing for not servicing of those key components and these are discussions we are having with our allies."

Washington has been locked in a years-long technology war with Beijing, seeking to stop China from making more advanced chips that could be used to strengthen its military.

The Biden administration announced new restrictions on shipments of American-made chipmaking tools to advanced Chinese chip factories in 2022, and convinced key chipmaking tool producers Japan and the Netherlands to follow suit with their own controls.

The U.S. rules made it difficult for U.S. companies to continue servicing tools that Chinese firms bought prior to the new regulations, but the Dutch and Japanese rules did not include similar restrictions.

That has spurred U.S. officials to convince allies to mirror U.S. curbs.

(Reporting by Alexandra Alper and Karen Freifeld; editing by Costas Pitas)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Vipshop Adds More Shoppers, Super VIPs Jump Double Digits
Vipshop Adds More Shoppers, Super VIPs Jump Double Digits
Nov 20, 2025
Vipshop Holdings Limited ( VIPS ) stock rose Thursday after it reported its third-quarter results. The quarterly sales reached $3.00 billion (21.4 billion Chinese yuan), topping the analyst consensus estimate of $2.96 billion. This is a 3.46% increase over sales of 20.7 billion yuan in the same period last year. The Chinese online discount retailer registered adjusted earnings per ADS of 42 cents...
Montage Gold Posts High-Grade Intercepts from Petit Yao Target at Kone Project
Montage Gold Posts High-Grade Intercepts from Petit Yao Target at Kone Project
Nov 20, 2025
06:10 AM EST, 11/20/2025 (MT Newswires) -- Montage Gold ( MAUTF ) late on Wednesday said its exploration program at the Kone project in Cote d'Ivoire has returned multiple high-grade intercepts at the Petit Yao target, highlighting its potential to become a high-grade satellite deposit of scale. The intercepts at the Petit Yao target, located near the Kone processing plant,...
Luxury sector to revive in 2026 but price hikes leave shoppers 'betrayed', Bain says
Luxury sector to revive in 2026 but price hikes leave shoppers 'betrayed', Bain says
Nov 20, 2025
PARIS/MILAN (Reuters) -The global luxury goods industry is likely to sell 3% to 5% more next year after stagnating in 2025, but years of aggressive price increases have alienated customers, threatening long-term growth, Bain & Company warned on Thursday. Bain said next year's growth will be driven by continued momentum in the United States, resilient local demand in Europe and...
Form 8.3
Form 8.3
Nov 20, 2025
LONDON--(BUSINESS WIRE)--   FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: SAMSON ROCK CAPITAL LLP (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee...
Copyright 2023-2026 - www.financetom.com All Rights Reserved