Michael Hart, president of the American Chamber of Commerce in Beijing, said the ban sparked uncertainty among U.S. "The whole world should be wary of the US." "Washington itself encourages US companies to do things that endanger China's national security, so it suspects that Chinese companies are doing the same," the former editor-in-chief of nationalist state tabloid Global Times tweeted. While the Chinese statement and state media said the Micron decision needed to be seen as an individual case in the context of national security concerns, not geopolitics, prominent Chinese commentator Hu Xijin struck a different note. "We also will engage with key allies and partners to ensure we are closely coordinated to address distortions of the memory chip market caused by China's actions," the department said. Commerce Department said it would speak directly with authorities in Beijing to clarify their actions. President Joe Biden called for an "open hotline" between Washington and Beijing. The move also comes shortly after the Group of Seven nations agreed to "de-risk, not decouple" economic engagement with China and as U.S.
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chipmaker to be targeted by Beijing following a series of export controls by Washington on certain American components and chipmaking tools to block them being used to advance China's military capabilities.Ĭhina launched the review in late March amid a dispute over chip technology and worsening relations between Washington and Beijing. corporate due diligence firm Mintz Group and management consultancy Bain. Tensions between Washington and Beijing have grown in recent months following raids and visits by Chinese authorities to U.S. "This action, along with recent raids and targeting of other American firms, is inconsistent with (China's) assertions that it is opening its markets and committed to a transparent regulatory framework." "We firmly oppose restrictions that have no basis in fact," a spokesperson from the U.S. The remarks helped Micron's shares pare losses, with the stock closing down 2.8% at $66.23 on the Nasdaq on Monday.īeijing's decision was opposed by Washington but helped stocks of Micron's rivals in China and South Korea, which are seen benefiting as mainland firms seek memory products from other sources. "We are currently estimating a range of impact in the low single-digit percentage of our company's total revenue at the low end, and high single-digit percentage of total company revenue at the high end," Murphy said. Micron Chief Financial Officer Mark Murphy said at a conference on Monday it was unclear what concerns Beijing had and direct and indirect sales to China-headquartered companies accounted for about a quarter of the chipmaker's revenue. It did not provide details on what risks it had found or what products from the company would be affected.Īnalysts said they saw limited direct impact on Micron as most of its key customers in China are consumer electronics players, but warned the move could prompt some companies to rid their supply chains of Micron products due to political risks. memory chipmaker, had failed its network security review and that it would block operators of key infrastructure from buying from the company. SEOUL, May 22 (Reuters) - U.S.-based Micron Technology Inc (MU.O) on Monday forecast a hit to revenue in the low-single to high-single digit percentage after a ban by China on sale of its memory chips to key domestic industries marked the latest in the Sino-American trade dispute.Ĭhina's cyberspace regulator said late on Sunday that Micron, the biggest U.S.
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