Semiconductor Export Restrictions Another Blow to US Chipmakers: S&P
Export restrictions on semiconductors to China will hinder U.S. tech firms, said a Wednesday S&P Global Ratings report, noting export controls come amid "a potential recession, high inflation, lingering supply chain constraints and cyclical industry decline." The extent of the…
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impact “will depend on how tightly they are enforced,” said analyst David Tsui, including in sectors beyond semiconductors such as auto, aerospace and defense and energy. It is difficult for the U.S. to narrowly identify technologies or entities that pose the biggest national security concern due to China's blend of military and civil technology research strategy, the report said. China President Xi Jinping affirmed the country's recent shift from rapid growth and more focus on national self-sufficiency, especially in technology, which S&P called a “direct aim” at U.S. major semiconductor suppliers to the Chinese economy."