News Snapshot:
The Biden administration is increasing pressure on China’s main sanctioned chipmaker by blocking its most advanced factory from receiving more American imports. This move comes after the factory produced an advanced chip for Huawei’s Mate 60 Pro phone, according to three individuals familiar with the situation. In the latter part of last year, the Commerce Department sent numerous letters to U.S. suppliers of Semiconductor Manufacturing International Corp (SMIC), informing them that the government will no longer allow them to sell to its most advanced plant. U.S took this action due to concerns the sophisticated Huawei chip, as disclosed by two...