The biggest chip companies in the US will make a last-ditch effort this week to ease trade restrictions against China. This writes Bloomberg. Representatives will travel to Washington next week to talk to policymakers and politicians.
The CEOs of Intel, Qualcomm and Nvidia, among others, want to lobby Washington against the extension of trade restrictions with China, which affect some chips and equipment needed to produce semiconductors. The administration of US President Joe Biden wants to implement the measures in the coming weeks.
While the companies don’t expect to be able to stop all the measures, they see an opportunity to convince Biden that an escalation will damage the current diplomatic relationship between the United States and China. Therefore, companies want Biden to focus on a more productive relationship.
Storm rising
Chip companies are at the center of the ever-growing storm between Beijing and Washington. The United States, where most of the technology comes from, believes that denying China access to the technology will benefit national security. It also suppresses China’s military ambitions.
However, companies see it as further limiting their larger market, leaving less money for investment in their technology. This, in turn, will jeopardize American leadership, it is expected. Company representatives declined to comment on the matter.
Source: BNR
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