Quarterly earnings reports from major US semiconductor companies

US Tightens Chip Export Curbs on China, Blacklists 140 Firms, China Vows Countermeasures

Dec 2, 2024, 02:20 PM

The United States has announced new export restrictions targeting China's semiconductor industry, adding 140 Chinese companies, including chip equipment maker Naura Technology Group, to its entity list. The measures aim to curb China's access to advanced chipmaking equipment and technology, particularly for artificial intelligence (AI) and military applications. The restrictions include limitations on exports of high-bandwidth memory (HBM) chips and semiconductor manufacturing tools, affecting equipment made in countries like Malaysia, Singapore, Israel, Taiwan, and South Korea, while the Netherlands and Japan are exempt. ASML, a Dutch semiconductor equipment maker, stated that it does not expect a material impact on its 2024 business and confirmed its 2025 outlook remains unchanged. China's Ministry of Commerce has strongly opposed the new measures, calling them a violation of market principles and fair competition, and has vowed to take necessary measures to safeguard the legal rights and interests of Chinese companies. This marks the third crackdown in three years by the US on China's semiconductor industry, further intensifying tensions between the two countries over technology and national security.