China warns it will take action if US implements new chip control measures

[KARAH]

CHINA IS PUTTING OUT A WARNING THAT IT PLANS TO TAKE ACTION IF THE U-S ENFORCES NEW CHIP CONTROL MEASURES. 

THIS COMES AFTER REPORTS THE BIDEN ADMINISTRATION COULD COME OUT WITH NEW EXPORT PROCEDURES BY THE END OF THE WEEK.

REUTERS REPORTS THE U-S CHAMBER OF COMMERCE TOLD ITS MEMBERS THE PLAN INCLUDES ADDING AS MANY AS 200 CHINESE CHIP COMPANIES TO A TRADE BLACKLIST WHICH WOULD PREVENT MOST U-S SUPPLIERS FROM SHIPPING TO THEM.

CHINA’S COMMERCE MINISTRY SPOKESPERSON HE YADONG SAYS CHINA STRONGLY OPPOSES WHAT HE CLAIMS IS THE U-S BROADENING THE CONCEPT OF NATIONAL SECURITY AND THE QUOTE “ABUSE” OF CONTROL MEASURES TARGETING CHINESE COMPANIES. 

THE U-S TIGHTENED CONTROLS ON SEMICONDUCTORS OVER FEARS THAT CHINA COULD USE THE TECHNOLOGY TO STRENGTHEN ITS MILITARY WITH YADONG RESPONDING…

“THESE ACTIONS SEVERELY DISRUPT INTERNATIONAL ECONOMIC AND TRADE ORDER, DESTABALISE GLOBAL INDUSTRY SECURITY AND HARM THE COOPERATIVE EFFORTS BETWEEN CHINA AND THE U-S. 

IT’S NOT CLEAR WHAT ACTIONS CHINA WOULD TAKE BUT YADONG ADDED THE COUNTRY WOULD DO WHAT IT NEEDED TO PROTECT THE RIGHTS OF CHINESE COMPANIES.

VO:

THE REPORTED CHANGES ARE A REVERSAL FROM THE BIDEN ADMINISTRATION SIGNING A BIPARTISAN BILL IN 20-22 PROVIDING INCENTIVES FOR CHIPMAKERS TO SET UP MANUFACTURING IN THE U-S…– COMMITTING 53 BILLION DOLLARS TO BOOST U-S COMPETITIVENESS WITH CHINA.

THE CHIPS ARE AN IMPORTANT COMPONENT FOR SEVERAL PRODUCTS INCLUDING ELECTRONICS, VEHICLES, MEDICAL DEVICES AND DEFENSE SYSTEMS.

THERE ARE ALSO CONCERNS THE REVITALIZATION OF THE SEMICONDUCTOR INDUSTRY WILL BE IMPACTED WHEN PRESIDENT-ELECT DONALD TRUMP TAKES OFFICE IN JANUARY.

HERE’S WHAT TRUMP HAD TO SAY ABOUT IT ON THE JOE ROGAN EXPERIENCE PODCAST.

that chip deal is so bad, we put up billions of dollars for rich companies to come in and borrow the money and build chip companies here. And they’re not going to give us the good companies anyway. All you had to do is charge them tariffs. If you were to put a tariff on the chips coming in, you would have been able to. Just like the auto companies. No different. More sophisticated, but no different.

TRUMP SAYS HE PLANS TO PUT UP TO 60 PERCENT TARIFFS ON GOODS FROM CHINA AND A TAX OF AT LEAST 10 PERCENT ON ALL OTHER IMPORTS. 

FOR SAN – I’M KARAH RUCKER. 

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