WASHINGTON, May 16 ― The Trump administration yesterday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies, spurring fears of Chinese retaliation and hammering shares of US producers of chipmaking equipment. A new rule, unveiled by the Commerce...
Saturday, 16 May 2020 08:14 AM MYTWASHINGTON, May 16 ― The Trump administration yesterday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies, spurring fears of Chinese retaliation and hammering shares of US producers of chipmaking equipment.
The measures include launching investigations and imposing restrictions on US companies such as Apple Inc, Cisco Systems Inc and Qualcomm Inc, as well as suspending purchases of Boeing Co airplanes, theThe Commerce Department's rule, effective Friday but with a 120-day grace period, also hits Taiwan Semiconductor Manufacturing Co Ltd, the biggest contract chipmaker and key Huawei supplier, which announced plans to build a US-based plant on Thursday.
The company was added to the Commerce Department's “entity list” last year due to national security concerns, amid accusations from Washington that it violated US sanctions on Iran and can spy on customers. Huawei has denied the allegations. “This is a licensing requirement. It does not necessarily mean that things are denied,” the official said, adding that the rule gives the US government greater “visibility” into the shipments. “What are done with those applications, we'll have to see ... Each application will be judged on its merits.”
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