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.
U.S. Blacklists Dozens Of Chinese Firms Including SMIC, DJI And More
December 19, 2020
The U.S. Department of Commerce on Friday released a list of 77 companies and affiliates to the so-called ‘Entity List’, including 60 Chinese companies for actions deemed contrary to the national security or foreign policy interest of the country.
The Entity List includes Semiconductor Manufacturing International Corp. (SMIC) and its subsidiaries, the world’s most popular drone maker SZ DJI Technology Co. and more than 60 other Chinese companies.
According to the Commerce Department, the action against SMIC stems from China’s military-civil fusion (MCF) doctrine and evidence of activities between SMIC and entities of concern in the Chinese military-industrial complex.
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DETROIT – Fiat Chrysler CEO Mike Manley will run operations in the Americas when his company merges with France s PSA Peugeot early next year.
FCA Chairman John Elkann announced Manley s new post Friday in a letter to employees. Manley s role in the merged company had been a mystery.
PSA CEO Carlos Tavares will run the overall company, to be named Stellantis. Shareholders of both companies will vote on the merger Jan. 4 to seal the deal creating the world s fourth-largest automaker. The merger is expected to be completed by the end of March.
Foxconn, Wisconsin closer to new deal