Technology

US ‘won’t tolerate’ China’s ban on Micron chips, commerce secretary says

The United States “won’t tolerate” China’s effective ban on purchases of Micron Technology (MU.O) memory chips and is working closely with allies to address such “economic coercion,” U.S. Commerce Secretary Gina Raimondo said on Saturday

Raimondo told a news conference after a meeting of trade ministers in the U.S.-led Indo-Pacific Economic Framework talks that the U.S. “firmly opposes” China’s actions against Micron.

These “target a single U.S. company without any basis in fact, and we see it as plain and simple economic coercion and we won’t tolerate it, nor do we think it will be successful.”

China’s cyberspace regulator said on May 21 that Micron, the biggest U.S. memory chip maker, had failed its network security review and that it would block operators of key infrastructure from buying from the company, prompting it to predict a revenue reduction

The move came a day after leaders of the G7 industrial democracies agreed to new initiatives to push back against economic coercion by China — a decision noted by Raimondo.

Reuters Technology

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