China-US Economic Ties

US Says ‘Won’t Tolerate’ China’s ‘Coercive’ Micron Chip Ban


US Commerce Secretary Gina Raimondo said on Saturday the United States “won’t tolerate” China’s ban on purchases of chips made by Micron Technology.

These “target a single US company without any basis in fact, and we see it as plain and simple economic coercion and we won’t tolerate it, nor do we think it will be successful,” Raimondo told a news conference after a meeting of trade ministers in the US-led Indo-Pacific Economic Framework (IPEF) talks.

Raimondo added the US “firmly opposes” China’s actions against Micron and it is working closely with allies to address such “coercion.”


Also on AF: China Says it Will Strengthen Chip Ties With South Korea


Earlier this month, China’s cyberspace regulator blocked operators of key infrastructure from buying chips from Micron, saying it had failed its network security review.

The move came a day after leaders of the G7 industrial democracies agreed to new initiatives to push back against economic coercion by China – a decision noted by Raimondo.

“As we said at the G7 and as we have said consistently, we are closely engaging with partners addressing this specific challenge and all challenges related to China’s non-market practices.”

Raimondo also raised the Micron issue in a meeting on Thursday with China’s Commerce Minister, Wang Wentao.

Micron, the biggest US memory chip maker, generated around 11% of its revenue from sales in mainland China in the last fiscal year.

The company forecast a hit to revenue in the low-single to high-single digit percentage due to the ban by China.


  • Reuters, with additional editing by Vishakha Saxena


Also read:

Japan and US Agree to Cooperate on Advanced Technology

Beijing Damns G7 Summit as an ‘Anti-China Workshop’

South Korea Asks US to Review China Curbs in Chips Act Funding

China’s Micron Ban Adds to Asian Chipmakers’ Investment Woes

US Risks ‘Enormous Damage’ With China Chip War: Nvidia CEO


Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has been working as a digital journalist since 2013, and is an experienced writer and multimedia producer. As an eager stock market trader and investor, she is keenly interested in economy, emerging markets and the intersections of finance and society. You can tweet to her @saxenavishakha

Recent Posts

India Buying Russian Oil at 30% Above Western Price Cap

India has become the top buyer of seaborne Russian oil, mainly Urals, since Western sanctions…

1 hour ago

Furious China Terms US a ‘True Empire Of Lies’

Rejecting a US report from last week outlining an alleged global disinformation campaign funded by…

4 hours ago

World Bank Says Asia Faces Worst Outlook in 50 Years – FT

China has been hit by retail sales slumping below pre-pandemic levels, stagnant house prices, greater…

4 hours ago

Evergrande Chief Suspected Of Transferring Assets Offshore: WSJ

Police scrutiny of Evergrande, and now its chief, has complicated debt restructuring efforts by the…

5 hours ago

US, Euro Firms Blame Beijing for China Uncertainty – Guardian

A survey has revealed business confidence among foreign company chiefs in China’s private sector is…

5 hours ago

Japan Shuts Down Lucrative Used Car Sales with Russia

Tokyo banned exports of all vehicles to Russia but subcompact cars in August, hitting a…

6 hours ago