US blacklists five Chinese companies

The US Department of Commerce has blacklisted five Chinese companies, including supercomputer maker Sugon. As a result, they cannot purchase any American products for the time being.

This is a new step in the constant trade rate between the United States and China. Earlier the Americans also blacklisted the Chinese telecom and network company Huawei.

Washington claims that Chinese companies are endangering national security because they are using American chips to make supercomputers for military use. This would also include cooperation with the Chinese army.

But for US business, government measures are not good news. On the stock exchanges in New York, chip companies such as Nvidia, AMD and Micron Technology lost value on Friday, as they lose important Chinese customers.

This way, we will continue to wait for a breakthrough that can bring the trade war to an end. US President Donald Trump and his Chinese counterpart Xi Jinping are traveling to the G20 summit in Japan next week. They may be able to get closer to each other there.

You might also like More from author

Comments are closed.