China Warns Against New US Chip Restrictions
Beijing expresses concern over potential export controls following a scandal involving Nvidia and former CEO Jensen Huang.
The Chinese government has expressed opposition to potential new semiconductor export control measures from the United States. The statement comes amid a scandal involving artificial intelligence chip giant Nvidia and the departure of its former CEO, Jensen Huang.
Chinese Foreign Ministry spokesperson Mao Ning stated that the abuse of export controls undermines the stability of global supply chains. According to the Chinese government, these restrictions do not serve the interests of any party involved in international trade.
The American political landscape faces questions regarding the actions of Commerce Secretary Howard Lutnick. Critics are investigating whether Lutnick's personal and professional ties to Chinese companies and the former Nvidia executive influenced oversight of multi-billion dollar chip sales.
Treasury Secretary Scott Bessent declared that several US government agencies supported including the company Megaspeed on the technology restriction list. However, the final decision on blocking access to US products remained under the authority of the Department of Commerce.
Facing pressure, Howard Lutnick has agreed to testify before the Senate Banking Committee on December 10. The US Congress is seeking a consensus to tighten export rules for data processing equipment to the Chinese market.
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