Latest news with #US-controlled
Business Times
12 hours ago
- Business
- Business Times
US may target Samsung, Hynix, TSMC operations in China: sources
[BENGALURU] The US Department of Commerce is considering revoking authorisations granted in recent years to global chipmakers Samsung, SK Hynix and Taiwan Semiconductor Manufacturing Company (TSMC), making it more difficult for them to receive US goods and technology at their plants in China, according to sources familiar with the matter. The chances of the United States withdrawing the authorisations are unclear. But with such a move, it would be harder for foreign chipmakers to operate in China, where they produce semiconductors used in a wide range of industries. A White House official said the United States was 'just laying the groundwork' in case the truce reached between the two countries fell apart. But the official expressed confidence that the trade agreement would go forward and that rare earths would flow from China, as agreed. 'There is currently no intention of deploying this tactic,' the official said. 'It's another tool we want in our toolbox in case either this agreement falls through or any other catalyst throws a wrench in bilateral relations.' Shares of US chip equipment makers that supply plants in China fell when The Wall Street Journal first reported the news earlier on Friday (Jun 20). KLA dropped 2.4 per cent, Lam Research fell 1.9 per cent and Applied Materials sank 2 per cent. Shares of Micron, a major competitor to Samsung and SK Hynix in the memory chip sector, rose 1.5 per cent. A TSMC spokesperson declined to comment. Samsung and Hynix did not immediately respond to requests for comment. Lam Research, KLA and Applied Materials did not immediately respond, either. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In October 2022, after the United States placed sweeping restrictions on US chipmaking equipment to China, it gave foreign manufacturers such as Samsung and Hynix letters authorising them to receive goods. In 2023 and 2024, the companies received what is known as Validated End User (VEU) status in order to continue the trade. A company with VEU status is able to receive designated goods from a US company without the supplier obtaining multiple export licenses to ship to them. VEU status enables entities to receive US-controlled products and technologies 'more easily, quickly and reliably', as the Commerce Department website puts it. The VEU authorisations come with conditions, a source familiar with the matter said, including prohibitions on certain equipment and reporting requirements. 'Chipmakers will still be able to operate in China,' a Commerce Department spokesperson said in a statement when asked about the possible revocations. 'The new enforcement mechanisms on chips mirror licensing requirements that apply to other semiconductor companies that export to China and ensure the United States has an equal and reciprocal process.' Industry sources said that if it became more difficult for US semiconductor equipment companies to ship to foreign multinationals, it would only help domestic Chinese competitors. 'It's a gift,' one said. REUTERS
Straits Times
14 hours ago
- Business
- Straits Times
US may target Samsung, Hynix, TSMC operations in China, sources say
In 2023 and 2024, the companies received what is known as Validated End User status in order to continue the trade. PHOTOS: AFP, REUTERS SAN FRANCISCO - The US Department of Commerce is considering revoking authorisations granted in recent years to global chipmakers Samsung, SK Hynix and TSMC, making it more difficult for them to receive US goods and technology at their plants in China, according to people familiar with the matter. The chances of the United States withdrawing the authorisations are unclear. But with such a move, it would be harder for foreign chipmakers to operate in China, where they produce semiconductors used in a wide range of industries. A White House official said the United States was 'just laying the groundwork' in case the truce reached between the two countries fell apart. But the official expressed confidence that the trade agreement would go forward and that rare earths would flow from China, as agreed. 'There is currently no intention of deploying this tactic,' the official said. 'It's another tool we want in our toolbox in case either this agreement falls through or any other catalyst throws a wrench in bilateral relations.' Shares of US chip equipment makers that supply plants in China fell when the Wall Street Journal first reported the news earlier on June 20. KLA Corp dropped 2.4 per cent, Lam Research fell 1.9 per cent and Applied Materials sank 2 per cent. Shares of Micron, a major competitor to Samsung and SK Hynix in the memory chip sector, rose 1.5 per cent. A TSMC spokesman declined comment. Samsung and Hynix did not immediately respond to requests for comment. Lam Research, KLA and Applied Materials did not immediately respond, either. In October 2022, after the United States placed sweeping restrictions on US chipmaking equipment to China, it gave foreign manufacturers like Samsung and Hynix letters authorising them to receive goods. In 2023 and 2024, the companies received what is known as Validated End User status in order to continue the trade. A company with VEU status is able to receive designated goods from a US company without the supplier obtaining multiple export licenses to ship to them. VEU status enables entities to receive US-controlled products and technologies 'more easily, quickly and reliably,' as the Commerce Department website puts it. The VEU authorisations come with conditions, a person familiar with the matter said, including prohibitions on certain equipment and reporting requirements. 'Chipmakers will still be able to operate in China,' a Commerce Department spokesperson said in a statement when asked about the possible revocations. 'The new enforcement mechanisms on chips mirror licensing requirements that apply to other semiconductor companies that export to China and ensure the United States has an equal and reciprocal process.' Industry sources said that if it became more difficult for US semiconductor equipment companies to ship to foreign multinationals, it would only help domestic Chinese competitors. 'It's a gift,' one said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Korea Herald
17 hours ago
- Business
- Korea Herald
US may target Samsung, Hynix, TSMC operations in China, sources say
The US Department of Commerce is considering revoking authorizations granted in recent years to global chipmakers Samsung, SK Hynix and TSMC, making it more difficult for them to receive US goods and technology at their plants in China, according to people familiar with the matter. The chances of the United States withdrawing the authorizations are unclear. But with such a move, it would be harder for foreign chipmakers to operate in China, where they produce semiconductors used in a wide range of industries. A White House official said the US was "just laying the groundwork" in case the truce reached between the two countries fell apart. But the official expressed confidence that the trade agreement would go forward and that rare earths would flow from China, as agreed. "There is currently no intention of deploying this tactic," the official said. "It's another tool we want in our toolbox in case either this agreement falls through or any other catalyst throws a wrench in bilateral relations." Shares of US chip equipment makers that supply plants in China fell when the Wall Street Journal first reported the news earlier on Friday. KLA Corp dropped 2.4 percent, Lam Research fell 1.9 percent and Applied Materials sank 2 percent. Shares of Micron, a major competitor to Samsung and SK Hynix in the memory chip sector, rose 1.5 percent. A TSMC spokesman declined comment. Samsung and Hynix did not immediately respond to requests for comment. Lam Research, KLA and Applied Materials did not immediately respond, either. In October 2022, after the United States placed sweeping restrictions on US chipmaking equipment to China, it gave foreign manufacturers like Samsung and Hynix letters authorizing them to receive goods. In 2023 and 2024, the companies received what is known as Validated End User status in order to continue the trade. A company with VEU status is able to receive designated goods from a US company without the supplier obtaining multiple export licenses to ship to them. VEU status enables entities to receive US-controlled products and technologies "more easily, quickly and reliably," as the Commerce Department website puts it. The VEU authorizations come with conditions, a person familiar with the matter said, including prohibitions on certain equipment and reporting requirements. 'Chipmakers will still be able to operate in China," a Commerce Department spokesperson said in a statement when asked about the possible revocations. "The new enforcement mechanisms on chips mirror licensing requirements that apply to other semiconductor companies that export to China and ensure the United States has an equal and reciprocal process.' Industry sources said that if it became more difficult for US semiconductor equipment companies to ship to foreign multinationals, it would only help domestic Chinese competitors.
Hindustan Times
3 days ago
- Business
- Hindustan Times
India will soon ditch GPS timekeeping for indigenous system: Pralhad Joshi
India will soon abandon GPS-based timekeeping in favour of an indigenous system to safeguard critical sectors from potential foreign disruptions, Union consumer affairs minister Prahlad Joshi announced on Wednesday. The move represents a significant step towards technological sovereignty as India prepares to rely on a domestically managed network of five atomic clocks rather than the US-controlled Global Positioning System for maintaining Indian Standard Time. 'Currently we depend on an external time source, which is GPS. GPS is owned by the US. India will source time from an indigenous system of five atomic clocks spread over different parts of the country to accurately keep the time, down to nanoseconds,' said Ashish Agarwal, principal scientist at the state-backed National Physical Laboratory. The decision stems partly from historical concerns about foreign dependency. Agarwal noted that 'during the Kargil War, the US had refused to share GPS coordinates with India for keeping time, which had created obstructions in the military operations.' The new system aims to protect sensitive sectors including navigation, defence and banking from potential foreign interference. Consumer affairs secretary Nidhi Khare explained that relying on foreign time sources creates 'very fine differences and varying time stamps, which can greatly impact sensitive operations, such as banking, equities and defence.' 'Often, different time stamps can lead to legal disputes,' Khare added. The minister said compliance with the indigenous system would be mandatory for commercial entities, banks and all establishments once operational. However, the change will not alter IST itself, which will maintain its offset of +05:30 relative to Coordinated Universal Time (UTC). The five highly calibrated atomic clocks are located in Guwahati, Bangalore, Ahmedabad, Faridabad and Bhubaneswar. Officials said the clocks have been tested and trialled and the system is expected to become operational soon. GPS, owned by the US government and operated by the United States Air Force, currently provides timing accurately to 10 nanoseconds worldwide. The precision becomes critical in sensitive operations such as missile launches, where 'milliseconds or nanoseconds' can prove vital, Agarwal explained. India joins other major powers including Russia and China in developing autonomous timekeeping capabilities, reflecting broader global trends towards reducing dependency on foreign-controlled infrastructure for critical national functions. The indigenous system represents part of India's broader Atmanirbhar Bharat initiative aimed at achieving self-reliance in strategic technologies.
Daily Mirror
3 days ago
- Politics
- Daily Mirror
Mystery blaze 'breaks out' inside US forces controlled area at airport
A huge fire has broken out at a US-controlled section of Baghdad Airport after it emerged Donald Trump is weighing up whether to involve the US in the Israel-Iran conflict. Clouds of smoke have been seen billowing into the air above Victoria Base, where US forces are said to be stationed. , , , , or visit homepage.
