Chips ahoy! US and China locked in self-destructive battle of trade restrictions
The chip wars between the US and China continue apace amid warnings that both sides may be harming their own economy as much as the other, and tech companies are increasingly concerned about doing business within constantly shifting restrictions.
Last week it was reported that China's chip imports had dropped by nearly 20 percent during the first six months of 2023 compared to data from a year earlier. The figures published by Beijing's General Administration of Customs show that US sanctions are having an impact as China's overall imports shrank by 0.1 percent during the same period, according to theChina is moving to address the issue of the US blocking its access to advanced technology by stepping up efforts to develop its own.
Two companies, Advanced Micro-Fabrication Equipment and Naura Technology Group, are predicting a doubling of profits,reports, as they and others increase efforts to offer home-brewed alternatives to the high-tech chipmaking equipment previously imported from suppliers such as Applied Materials or ASML. These in turn are intended to let Chinese semiconductor companies manufacture the advanced chips the Chinese market demands.
Meanwhile, US tech companies are said to be seeking urgent meetings with the Biden administration regarding Washington's policies on trade with China., the chief executives of both Intel and Qualcomm will be visiting Washington this week to hold meetings with officials about export controls and other matters affecting their businesses. It cited unnamed sources familiar with the matter who said that other semiconductor CEOs are coming for similar meetings.
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