Trump may revoke chipmakers’ waivers to use U.S. equipment in China
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Chip stocks sank on Friday after the Wall Street Journal reported that Trump is looking at new restrictions targeting China’s semiconductor access. The drop hit hard across the board. Taiwan Semiconductor Manufacturing Co. (TSMC) lost 2.5% in its US-listed shares, while the Philadelphia Semiconductor Index slid by 2%. Applied Materials fell 4%. Dutch equipment maker ASML Holding NV also took a 1.9% hit. The new curb warning came from Jeffrey Kessler, the Commerce Department’s undersecretary for industry and security. He told TSMC, Samsung Electronics, and SK Hynix that the waivers they currently rely on might be pulled. These waivers let them use US semiconductor manufacturing tools inside China. If they lose them, it would disrupt key parts of the global chip supply chain. US justifies restrictions with reciprocal licensing policy The Commerce Department tried to calm things down, saying in a statement to Bloomberg that the companies are not being shut out of China. “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,” the official reportedly said. That same quote was shared with the Wall Street Journal, too. The White House also defended the move, saying it’s not meant to increase trade tensions. Instead, it’s about aligning licensing rules with how China treats its own rare-earth material exports. But the timing complicates everything. US and Chinese officials are still working on finalizing the trade agreement they discussed in London, and this could easily be seen as the US going back on that deal, according to the Journal. This new enforcement approach could anger Beijing and strain ties with Seoul and Taipei, whose companies would be the most impacted. These allies have spent billions building US plants and have supported…
Filed under: News - @ June 20, 2025 4:36 pm