U.S. blacklists top Chinese chipmaker, alleging military ties
The move means that U.S. companies will need to get a license to sell sophisticated technology to the Semiconductor Manufacturing International Corp.
By PAUL WISEMANAssociated Press
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“We will not allow advanced U.S. technology to help build the military of an increasingly belligerent adversary,’’ Commerce Secretary Wilbur Ross said.
Andrew Harnik/Associated Press, file
WASHINGTON The Trump administration blacklisted China’s top chipmaker Friday, limiting the Semiconductor Manufacturing International Corp.’s access to advanced U.S. technology because of its alleged ties to the Chinese military.
“We will not allow advanced U.S. technology to help build the military of an increasingly belligerent adversary,’’ Commerce Secretary Wilbur Ross said in a statement explaining the decision to put SMIC on the U.S. government’s so-called Entity List.
US blacklists top Chinese chipmaker, alleging military ties
By PAUL WISEMANDecember 18, 2020 GMT
FILE - In this Tuesday, March 10, 2020, file photo, Commerce Secretary Wilbur Ross testifies before a House Appropriations subcommittee on Capitol Hill, in Washington. The Trump administration blacklisted China’s top chipmaker Friday, Dec. 18, limiting the Semiconductor Manufacturing International Corporation’s (SMIC) access to advanced U.S. technology because of its alleged ties to the Chinese military. “We will not allow advanced U.S. technology to help build the military of an increasingly belligerent adversary,’’ Ross said. (AP Photo/Andrew Harnik, File)
FILE - In this Tuesday, March 10, 2020, file photo, Commerce Secretary Wilbur Ross testifies before a House Appropriations subcommittee on Capitol Hill, in Washington. The Trump administration blacklisted China’s top chipmaker Friday, Dec. 18, limiting the Semiconductor Manufacturing International Corporation’s (
Stocks slide from records as wait continues for Congress
Wall Street capped a solid week of gains on a down note Friday.
(Richard Drew / Associated Press)
Wall Street capped a solid week of gains on a down note Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses.
The Standard & Poor’s 500 fell 0.4%, a day after it and other major indexes returned to record heights. The decline ended a winning streak for the benchmark index at three days, but it still notched a 1.3% weekly gain that more than made up its prior week’s loss.
US blacklists dozens of Chinese firms including SMIC, DJI businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
Senior Market Analyst - The Americas at OANDA
With more than 20 years’ trading experience, Ed Moya is a senior market analyst with OANDA, producing up-to-the-minute intermarket analysis, coverage of geopolitical events, central bank policies and market reaction to corporate news. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies.
Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news.