U.S. to Blacklist Dozens of China Firms, Reuters Says Description video: Dec.18 — The U.S. is preparing to blacklist Semiconductor Manufacturing International Corp. and dozens of other Chinese companies, Reuters reported, citing people familiar with the matter. Bruce Einhorn reports […]
U.S. to Blacklist Dozens of China Firms, Reuters Says
Dec.18 — The U.S. is preparing to blacklist Semiconductor Manufacturing International Corp. and dozens of other Chinese companies, Reuters reported, citing people familiar with the matter. Bruce Einhorn reports on \”Bloomberg Daybreak: Europe.\”
China is preparing a “black list” of American companies
China is ready to take a series of countermeasures against the US plan to block semiconductor supplies to the Chinese telecommunications company Huawei.
Beijing is considering the inclusion of US companies in «list of unreliable legal entities», the imposition of restrictions against them, as well as the suspension of purchases of Boeing aircraft, a source close to the Chinese government said.
«China will take drastic countermeasures to safeguard its legitimate interests if the US moves forward with a plan to ban all major chip suppliers, including Taiwan’s TSMC, with the Chinese tech giant», – added anonymous source.
Among other things, countermeasures include initiating investigations into US companies such as Qualcomm, Cisco and Apple in accordance with Chinese laws and regulations, for example, taking into account cybersecurity measures and antitrust requirements..
It should be noted that the aforementioned American companies are highly dependent on the Chinese market.
China’s Ministry of Commerce announced last May that China would issue its own blacklist of foreign companies that seriously undermine the legitimate interests of Chinese market participants.
The list of untrusted entities will include foreign organizations, individuals and legal entities that block or disrupt supply chains, or take discriminatory measures for non-commercial reasons..
The list will also include foreign companies that cause real or potential damage to the country’s industrial sector.. A potential threat to China’s national security is also a reason for inclusion in this list..