US to Sanction 200 Chinese Chip Firms, Targeting AI and High-Bandwidth Memory; China Vows to Protect Firms

Nov 28, 2024, 07:15 AM

The United States is reportedly planning to sanction 200 more Chinese semiconductor firms in a move to escalate export restrictions on China's chip industry. The Biden administration is expected to announce a sweeping set of measures on Monday designed to further restrain China’s ability to develop advanced artificial intelligence, potentially including export bans on high-bandwidth memory. In response, China's Ministry of Commerce spokesperson He Yadong stated that China opposes unilateral tariff increases and emphasized that "imposing tariffs arbitrarily on trade partners cannot solve the problems within the United States itself." The Chinese government pledged to protect the interests of its companies and will take necessary measures to safeguard the legitimate rights of Chinese enterprises if the US continues to escalate export controls.