Qualcomm is struggling to keep up with demand for its processor chips used in smartphones and gadgets, as a chip shortage that first hit the car industry spreads across the electronics business, sources said.
US President Joe Biden’s nominee for commerce secretary, Gina Raimondo, said she knows of “no reason” why Huawei Technologies and other Chinese companies shouldn’t remain on a restricted trade list.
The US is set to add dozens of Chinese companies, including the country’s top chip maker, SMIC, to a trade blacklist on Friday, two people familiar with the matter said.
The Trump administration is poised to add China’s top chip maker, SMIC, to a blacklist of alleged Chinese military companies, escalating tensions with Beijing weeks before President-elect Joe Biden takes office.
Just as the US government starts looking to rein in, or even break up, big technology companies in the belief they have too much power, China is going in the opposite direction.
The US has imposed restrictions on exports to China’s biggest chip maker, SMIC, after concluding there is an “unacceptable risk” equipment supplied to it could be used for military purposes.
SMIC tumbled the most in seven weeks following a report that the Trump administration was considering adding the chip maker to a blacklist amid an escalating crackdown on Chinese tech companies.