Top US Senator, Biden working to address China ban on Micron chips -statement

WASHINGTON (Reuters) – The U.S. Senate’s top Democrat said on Tuesday that he and President Joe Biden’s administration were engaging allies and the broader business community to address China’s restrictions against memory chips made by U.S.-based Micron Technology Inc (NASDAQ:).

“The Chinese government’s announced action against Micron is not based in fact and is a troubling use of economic coercion against the U.S.,” Senate Majority Leader Chuck Schumer said in a statement.

“I am working closely with the Biden administration to make clear to the Chinese government that this sort of behavior is unacceptable and unproductive.”