US Secretary of Commerce Gina Raimondo on Thursday expressed concern about recent actions Beijing has taken against US companies in a meeting with Chinese Minister of Commerce Wang Wentao (王文濤).
The encounter marked the highest-level visit to the US by a Chinese official in more than two years.
Raimondo spoke about “the recent spate of PRC actions taken against US companies operating in the PRC,” during the meeting in Washington, the department said in a statement, using the abbreviation for the People’s Republic of China.
Photo: Reuters
She did not mention any company by name, but China on Sunday said it was targeting Idaho-based Micron Technology Inc’s products, citing national security reasons, a step that has triggered calls in Washington for retaliation.
The pair also had “candid and substantive” talks about issues relating to the US-China commercial relationship, including the overall environment in both countries for trade and investment, and areas for potential cooperation, the department said.
The Chinese Ministry of Commerce in its own statement said that the meeting was candid and constructive, and that Wang expressed concerns about US chip policy and export controls with Raimondo.
Wang was on his way to an APEC forum in Detroit, Michigan, where economic coercion and reorienting supply chains were expected to be on the agenda.
He was expected to meet with US Trade Representative Katherine Tai (戴琪) at the APEC gathering.
The trip fits a broader trend of Chinese officials traveling more often in the months since the country ended its COVID-19 restrictions.
It also coincides with a push by the administration of US President Joe Biden to prevent relations between the two countries from worsening after a series of episodes, ranging from the furor over an alleged spy balloon that traversed the US in February to tit-for-tat sanctions and export controls on semiconductors.
Speaking at the end of the G7 summit in Japan on Sunday, Biden expressed optimism that relations would “thaw very shortly.”
After that, Xie Feng (謝鋒) arrived in the US to serve as China’s new ambassador.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
RSS