US Sanctions to Curb Operations of China's Largest Chipmaker SMIC: Report
4 years, 2 months ago

US Sanctions to Curb Operations of China's Largest Chipmaker SMIC: Report

News 18  

The US government has put sanctions on China’s largest smartphone chipmaker, Shanghai Manufacturing International Corporation, dealing further blow to Chinese companies with business dealings in the United States. On Friday, September 25, the US Department of Commerce told American companies that exports to SMIC posed an ‘unacceptable risk’ of being diverted to ‘military use,’ according to a copy of the letter seen by the Financial Times. SMIC has already lost business with its biggest customer Huawei due to US sanctions. Last weekend, China’s Ministry of Commerce announced that it will curb the operations of foreign companies deemed “unreliable.” The Financial Times reported that SMIC today said the company was not yet aware of the new sanctions, and was looking into the situation.

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