US Government has Blacklisted Chinese Chipmaker SMIC

US Government has Blacklisted Chinese Chipmaker SMIC

The Trump administration has reportedly been considering increasing Chinese chipmaker SMIC (Semiconductor Production International Company) to the trade blacklist of Chinese companies, restricting the business to do any business with America and/or with some of its affiliates. The initial report originates from Reuters also it says that the shift originated from Pentagon after contemplating whatever SMIC ought to be positioned on a blacklist.

It really is up to now unclear if some other US agencies assist your choice, however, it must be public soon. The business has obtained the news on Saturday and it has been “in total shock” concerning the decision. Soon after the news headlines broke, SMIC share has fallen just as much as 15% amid the feasible blacklist. If SMIC wants to continue dealing with American providers, it would have to look for a difficult-to-obtain permit from the federal government. However, now it’s verified that “AMERICA government has formally imposed sanctions on the Chinese chipmaker SMIC. The company is currently under US sanctions and is positioned on an industry blacklist”.

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