US is changing its policy towards China
2022.12.14 12:27
US is changing its policy towards China
Budrigannews.com – A U.S. official told Reuters on Wednesday that the Biden administration plans to remove some Chinese companies from a red flag trade list with Beijing’s closer cooperation.
According to the person, the Chinese government’s increased willingness to permit U.S. site visits is the reason for the plan to remove them from the so-called “unverified” list, which is expected to be implemented soon.
Reuters was unable to identify the number of designated entities or their names. The decision indicates some cooperation between Washington and Beijing, the two largest economies in the world locked in a fierce trade and technology war.
The move may not signal a wider thaw.
Another person who is familiar with the situation claims that the Biden administration is also likely to include the Chinese manufacturer of memory chips YMTC on a more stringent export control list as soon as this week.
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The United States is unable to carry out on-site visits to companies in order to ascertain whether or not they can be trusted to receive sensitive technology exports from the United States, which is why they have been added to the unverified list.
The approval of China’s commerce ministry is required for U.S. inspections of Chinese businesses.
With the removals, U.S. exporters won’t have to do any more research before sending goods to them.
The Financial Times was the first to report the news about YMTC. The company did not immediately respond to a request for comment.
