Correct me if I’m wrong, but I remember that DJI was already on a export sanctions list last year, however there wasn’t a large effect since they don’t use a lot of US products.
Miscellaneous News
- Thread starter bd popeye
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Well you are right!
Strange.. Normally the US starts with investment sanctions and then go to export sanctions
Thanks for the correction
no problem. I think they are getting really desperate lol. Throwing in the kitchen sink but it’s not working. Chinese tech is more resilient than they realize.
I think the shares are transferable if the Chinese companies are listed on the Hk exchange.
The american government is now trying to whitewash and brainwash its children so that they will grow up to fight and defend the rich elite from the justice of the 3rd world:
U.S. to Blacklist DJI and Seven Other China Firms, FT Reports
Bloomberg News15 december 2021 05:56 CETU
- Commerce, Treasury to add sanctions for DJI, biotech firms
- Shares in healthcare firms including Wuxi Biologics plummet
Eight names, which include supercomputing giant or Sugon and , will join the Treasury Department’s list of sanctioned Chinese military-industrial complex companies on Thursday, the FT said. American investors are barred from investing in companies bearing that label. The companies named were already on a separate blacklist that bans them from accessing American technologies.
In addition, the Commerce Department plans to slap sanctions on the export of American technology to more than two dozen other Chinese firms, including several in the field of biotechnology, the FT reported without identifying them. plummeted as much as 24% in Hong Kong on Wednesday, its most on record.
“It’s an extremely painful drop, and until we know more details its hard for us to take any action. This is extremely confusing as there are neither names nor specifics on what the sanctions will be, especially as so many orders have already been signed in advance, what will happen to those?” says Lin Cun, a fund manager at Shenzhen Senrui Investment Co. specializing in health care. “All we can do is watch the losses for now.”
The moves come days after Washington sanctioned over the alleged oppression of Uyghur Muslims in the Xinjiang autonomous region, forcing the AI leader to postpone its Hong Kong IPO. It threatens to escalate tensions between Washington and Beijing, who are tussling over everything from technology supremacy to human rights.
The Biden administration is also to be considering imposing tougher sanctions on China’s largest chipmaker, Semiconductor Manufacturing International Corp.
Secretary of State Antony Blinken, who is touring Asia this week, criticized China’s “aggressive actions” in the region on Tuesday while laying out plans to more closely integrate U.S. allies and security partners.
The US Commerce and Treasury departement Chinese blacklist continues to expand at a fast rate.
Basically, in every emerging industry the US will sanction tech exports to China
If these companies which work in hi-tech are so stupid to depend on US technology, then they deserve to die
Biden Team Considers New Clampdown on China’s Biggest Chipmaker
- Agencies are meeting Thursday to discuss further restrictions
- U.S. equipment makers face new restrictions in selling to SMIC
The Biden administration is considering imposing tougher sanctions on China’s largest chipmaker, according to people familiar with the situation, building on an effort to limit the country’s access to advanced technology.
The National Security Council is set to hold a meeting on Thursday to discuss the potential changes, said the people, who asked not to be identified because the deliberations are private. Agencies represented through their deputies will include the Commerce, Defense, State and Energy departments.
The proposal that’s being examined would tighten the rules on exports to Shanghai-based If one proposal is adopted, companies such as , and may find their ability to supply gear to SMIC severely limited.
Current rules specify that machinery “uniquely required” for making advanced chips can’t be exported. One proposal being considered at the meeting would change that to “capable for use,” which would include machinery that’s also used for making less advanced electronic components.
A Commerce Department spokesperson said the agency doesn’t comment on interagency discussions regarding export control policies. But the department is working to adopt controls that promote U.S. national security and foreign policy interests while not undercutting U.S. technology leadership, the spokesperson added.
A spokeswoman for the National Security Council declined to comment.
Further U.S. action against SMIC would complicate matters for companies in the chip supply chain. China is the biggest market for semiconductors since it’s home to factories that make a huge chunk of the world’s electronic devices.
Companies from video-game makers to have said they can’t make enough products to meet demand because of the shortage of semiconductors. The auto industry alone is expected to lose more than $200 million in sales because they can’t get enough chips to build all the vehicles people are willing to buy.
For decades, the Asian nation has largely relied on U.S. chipmaking technology, but China is trying to build up its homegrown semiconductor industry. That would make it an even bigger market for manufacturing equipment.
Even suppliers outside the U.S. face a dilemma. Companies such as Netherlands-based ASML Holding NV will have to weigh the consequences of ignoring the Biden administration’s push and shipping to SMIC and its local peers.
But the federal agencies need to agree on the approach to take, and that might not be easy. There’s division among agencies, with the Defense Department and National Security Council arguing that the Biden administration should pursue the changes unilaterally.
The Commerce Department, on the other hand, is pushing for coordination with other countries that produce the same technology. It worries that a unilateral change would give an edge to companies such as Tokyo Electron Ltd. in Japan and other rivals from South Korea and Taiwan, whose products could supplant U.S. exports.
The White House is seeking cooperation from other nations, particularly in Asia, to align policies, Commerce Secretary Gina Raimondo told Bloomberg reporters and editors during a roundtable in New York last week.
“If America puts export controls vis-a-vis China on a certain part of our semiconductor equipment -- but our allies don’t do the same thing, and China can therefore get that equipment from our ally -- that’s not effective,” Raimondo said.
“The devil is deeply in the details,” she added. Measures shouldn’t be “overly broad” and deprive companies of the revenue they need for research and development, Raimondo said.
Non-paywall
Yeah, absolutely. They did not become extremely wealthy and powerful by being nice.
This will be good for China because the companies that will emerge and/or survice this onslaught , will be unstoppable juggernauts that will crush whatever Western competition will be on their way .
The weak ones or those that still think they can appeal or change American resolve to squash them will be relegated to dustbins of history .