XLNX - Biden administration is said to evaluate new regulations on China's biggest chipmaker

The Biden administration is evaluating imposing tougher sanctions on China's largest chipmaker Semiconductor Manufacturing International Corp. (OTCQX:SMICY). The National Security Council has set a meeting for Thursday to discuss the proposal, which woupld tighten rules on exports to SMIC, according to a Bloomberg report, which cited people familiar. Companies such as Applied Materials (NASDAQ:AMAT) KLA Corp. (NASDAQ:KLAC) and Lam Research Corp. (NASDAQ:LRCX) could see their ability to supply items to SMIC "severely limited," the report said. The news comes after the Pentagon last December added SMIC (OTCQX:SMICY) and national offshore oil and gas producer CNOOC to a blacklist of alleged Chinese military companies. SMIC is viewed as a major player in China's effort to boost its domestic chip industry, a drive that was accelerated by the U.S.-China trade war. The Bloomberg news about on potential harsher sanctions was reported by the WSJ last week. The possible tougher sanction also come after the FT reported earlier this

For further details see:

Biden administration is said to evaluate new regulations on China's biggest chipmaker