(Reuters) -Wall Street index futures dropped on Wednesday and chip darling Nvidia slumped after the company flagged steep charges from new U.S. curbs on chip exports to China, fuelling worries about the fallout of an escalating trade war. The U.S. Commerce Department late Tuesday issued new export licensing requirements for Nvidia’s H20, and AMD’s MI308…
The Biden administration opened a trade investigation into China’s production of older-style semiconductors, setting the stage for potential tariffs or other trade restrictions when President-elect Donald Trump takes office in January.The probe, conducted under Section 301 of the Trade Act, targets “legacy chips” that power everyday devices from cars and household appliances to telecommunications equipment…
BEIJING (Reuters) – China urged the United States on Wednesday to stop “unreasonable suppression” of its companies, in response to U.S. proposals to ban Chinese software and hardware in vehicles on its roads due to national security concerns. “The U.S. move has no factual basis, violates the principles of market economy and fair competition, and…