The US blacklists dozens of Chinese companies for exports of technology goods

The US government is blacklisting Yangtze Memory Technologies, Shanghai Micro Electronics Equipment Group and dozens of other Chinese tech companies, deepening a trade tension between the world’s two largest economies.

The Commerce Department puts the companies on the so-called Entity List, which means anyone wanting to supply them with US technology will need a license from Washington, which will likely be difficult to obtain.

The latest restrictions are part of a push to limit China’s access to advanced chipmaking and artificial intelligence technology, which the US wants to keep away from the Asian nation’s military. In October, the Biden administration unveiled sweeping measures restricting what US companies can sell to the country and urged allies to join the plan.

The idea is to severely limit China’s “ability to use artificial intelligence, advanced computers and other powerful, commercially available technologies for military modernization and human rights abuses,” Undersecretary for Industry and Security Alan Estevez said in a statement. “This work continues, as do our efforts to uncover and disrupt Russia’s efforts to procure the necessary items and technology for its brutal war against Ukraine, including from Iran.”

Yangtze Memory and Shanghai Micro were added to the list over concerns that they will work with Huawei, Hangzhou Hikvision Digital Technology and other companies the US has decided pose either a national security risk or Chinese oppression support government.

The two companies are key to China’s efforts to build a domestic chip manufacturing business and wean itself off of imports.

https://www.independent.ie/business/world/us-adds-dozens-of-chinese-firms-to-its-tech-goods-exports-blacklist-42223030.html The US blacklists dozens of Chinese companies for exports of technology goods

Fry Electronics Team

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