Connect with us

International Circuit

YMTC could be added to U.S. trade blacklist next month

Chinese memory chip maker YMTC and dozens of other Chinese entities are “at risk” of being added to a trade blacklist as soon as Dec. 6, a U.S. Commerce Department official said in prepared remarks seen by Reuters.

Last month, 31 entities including YMTC were added to a list of companies that U.S. officials have been unable to inspect, ratcheting up tensions with Beijing and starting a 60 day-clock that could trigger the tougher penalties.

Under a new policy announced the same day, if a government prevents U.S. officials from conducting site checks at companies placed the unverified list, Washington could start the process for adding them to the entity list after 60 days.

In remarks prepared for delivery at a Society for International Affairs event on Monday, Assistant Secretary for

Export Enforcement Matthew S. Axelrod confirmed that the new measure applies to YMTC and 30 other Chinese companies, as well as 50 other companies previously on the list.

Those companies “are now at risk of moving to the Entity List as soon as December 6 if we are unable to complete an end-use check by then,” according to his prepared remarks.

YMTC and the Chinese embassy in Washington did not immediately respond to requests for comment.

U.S. exporters must conduct additional due diligence before sending goods to entities placed on the “unverified list” and may have to apply for more licenses.

Once a company is added to the entity list, its U.S. suppliers must seek a special license to ship even low tech items to it. Reuters

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2023 TV Veopar Journal