Senior US Senator Biden is working to counter China’s ban on Micron chips By Reuters

© Reuters. FILE PHOTO: A mobile phone with the Micron logo displayed is placed on a computer board in this photo taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/

WASHINGTON (Reuters) – The top Democrat in the U.S. Senate said on Tuesday that he and President Joe Biden’s administration have reached out to businesses to counter China’s ban on the sale of memory chips made by Micron Technology Inc (NASDAQ:).

This week’s restrictions by Chinese cyberspace regulator Micron, the largest US memory chipmaker, were the latest in a trade dispute between the world’s two largest economies.

“The Chinese government’s announcement against Micron is unfounded and is being used aggressively to pressure the United States,” Senate Majority Leader Chuck Schumer said in a statement.

“I am working with the Biden administration to make it clear to the Chinese government that this kind of behavior is unacceptable and counterproductive,” Schumer said.

China’s cyberspace watchdog said on Sunday that Micron had failed to conduct a cyber security review and that it would ban infrastructure users from buying from the company.

Micron on Monday predicted a bump in earnings from slightly lower to higher numbers after the ban.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *