US Tech Companies Warn Biden to STOP Chip Sanctions Against China
U.S. chip company executives reportedly met with top Biden administration officials a few days ago to discuss China policy, according to the State Department and sources. This came at a time when the most influential semiconductor lobby group demanded a halt to new limits that are being considered. After his recent trip to China, Secretary of State Antony Blinken had discussions on the chip sector and supply chains with top executives of chip companies, according to a representative for the department who spoke with media. Gina Raimondo, the Secretary of Commerce; Lael Brainard, Director of the National Economic Council; and Jake Sullivan, Director of the National Security Council; were among the other government officials that met with representatives from Intel, Qualcomm, and Nvidia. In light of the fact that the Biden administration is contemplating imposing yet another round of export restrictions on chips to China, the chip industry is doing everything it can to safeguard its profits in China. According to the Semiconductor Industry Association (SIA), China was the largest single market in 2017, accounting for $180 billion in purchases of semiconductors. This figure represents more than a third of the total $555.9 billion spent on semiconductors worldwide.
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