Sunday, September 24, 2023

The US Secretary of Commerce discussed Micron and Intel with Chinese officials

US Commerce Secretary Gina Raimondo said Monday she raised concerns about a number of US trade issues, including Intel and Micron, during talks in Beijing with her Chinese counterpart Wang Wentao.

Raimondo told two journalists in a brief interview that in “full and frank” talks with Wang, he also discussed the restrictions China has imposed on exports of gallium and germanium.

The secretary met with Wang for more than two hours, and then they had lunch together.

In May, Raimondo said the United States would “not tolerate” China’s effective ban on buying Micron Technology memory chips and was working closely with allies to counter this kind of “economic coercion.”

Earlier this month, Intel suspended its $5.4 billion acquisition of Tower Semiconductor after the company failed to get approval from China’s state market regulator.

China, the world’s top producer of germanium, which accounts for more than 60% of the world supply, in July announced restrictions on exports of eight gallium and six germanium products used to make semiconductors from August 1 on national security grounds.

Raimondo previously announced that China has agreed to set up a new formal working group on trade issues with the United States.

The new group is an advisory mechanism involving US and Chinese government officials and private sector representatives “to seek solutions to trade and investment issues and advance US business interests in China.”

The United States and China also agreed to convene subject matter experts from both sides for technical talks “to strengthen the protection of trade secrets and confidential business information,” Raimondo said.

World Nation News Desk
World Nation News Desk
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