Tech CEOs urge US to rethink China restrictions

TL;DR Breakdown

  • US tech leaders from Intel, Nvidia, and Qualcomm have expressed concern to the Biden administration about the effect of export restrictions to China on the American chip industry’s global leadership.
  • These discussions occurred in the midst of increasing US-China tensions, which are forcing tech companies to limit their operations in their largest market, China.
  • Executives argued that existing regulations limiting the export of AI hardware to China haven’t slowed China’s AI development as intended.

Description

In a bid to potentially reshape the United States’ stance on export restrictions to China, top tech executives recently aired their concerns to key Biden administration officials. Executives from Intel, Nvidia, and Qualcomm highlighted the potential risks to America’s leadership position in the chip industry and encouraged the administration to reconsider the ramifications of these … Read more

In a bid to potentially reshape the United States’ stance on export restrictions to China, top tech executives recently aired their concerns to key Biden administration officials.

Executives from Intel, Nvidia, and Qualcomm highlighted the potential risks to America’s leadership position in the chip industry and encouraged the administration to reconsider the ramifications of these restrictions.

These discussions took place in the nation’s capital, though specific details remain private.

High-level dialogue between administration and tech giants

CEO of Intel, Pat Gelsinger, along with his counterparts, Jensen Huang from Nvidia and Cristiano Amon from Qualcomm, had a candid conversation with the Biden administration officials.

The trio presented a united front against export controls, expressing the fear that such restrictions could jeopardize the U.S. position as an industry leader. The administration officials were receptive to their concerns, though they refrained from making immediate commitments.

These tech titans find themselves in a precarious position, caught in the middle of escalating Sino-US tensions. Washington’s policy, citing national security concerns, has forced these companies to limit their deliveries to China, which is their largest market.

This has created an atmosphere of uncertainty for the sector, which is attempting to chart its way through this complex geopolitical landscape.

One executive voiced his reservations regarding the existing regulations that restrict the export of artificial intelligence hardware to China. According to him, the policy, designed to slow down China’s AI development, has fallen short of achieving its intended goal.

On the other hand, the Biden administration has been actively considering the tightening of existing restrictions. For instance, one such proposal is targeting Nvidia-produced chips specifically designed for the Chinese market.

These restrictive policies, coupled with the actions taken by Beijing against U.S. chipmakers such as Micron Technology Inc, have created hurdles for these companies in conducting business in China.

The U.S. government’s stand: An effective but limited approach

Jake Sullivan, the U.S. National Security Adviser, acknowledged the need for an effective, albeit limited, approach. He termed it as “small yard, high fence,” while simultaneously defending the administration’s actions.

Sullivan stated that the measures have been targeted and did not have a significant impact on the U.S.-China trade, especially in the context of most chips.

He acknowledged that the U.S. chip sales to China have continued unhindered, but he also hinted at the potential introduction of more restrictions. However, Sullivan assured that these would be implemented only after thorough discussions with the concerned companies.

The National Security Adviser emphasized, “We are going to continue to look at very targeted, very specific restrictions on technology with national security and military applications and make judgments rigorously, carefully, methodically — and, yes, in deep consultation with our private sector.”

With the U.S. tech industry voicing their concerns and the administration weighing its options carefully, the future course of the U.S.’ export restrictions towards China remains uncertain.

For now, the industry waits and watches for potential policy shifts that could have a substantial impact on their operations and the country’s technological leadership.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Tech CEOs urge US to rethink China restrictions

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月23日 14:12
Next 2023年7月23日 15:55

Related articles

  • Crypto deals dwindle in Formula One as Web3 attempts to bring back the glory days

    TL;DR Breakdown Formula One shifts financial focus from crypto entities to Web3 which appears like the marriage the industry needs after the FTX shock. The Formula One fan base is made up of Young and tech-savvy individuals, which is similar to most crypto enthusiasts. The partnership between both industries sounds promising. The Web3 events will take place in different venues across the world, which attract thousands of people to the respective cities each year. Description The collapse of FTX came as a shock to many, particularly Formula One fans who had gotten used to the Crypto.com logos on the Grand Prix as well as the FTX sign on the race cars, particularly Lewis’ silver arrow. If you were an avid follower of the sport, already going through the ‘Hamilton heartbreak’ … Read more The collapse of FTX came as a shock to many, particularly Formula One fans who had gotten used to the Crypto.com logos on the Grand Prix as well as the FTX sign on the race cars, particularly Lewis’ silver arrow. If you were an avid follower of…

    Article 2023年9月18日
  • Binance announces end of support for BUSD stablecoin by February 2024

    TL;DR Breakdown Binance has announced it will stop supporting the BUSD stablecoin by February 2024. Binance-Peg BUSD withdrawals will stop from September 7th, 2023, but BUSD (ERC-20) will still operate on Ethereum. Despite the changes, Paxos guarantees that BUSD tokens will be backed and redeemable until February 2024.   Description Binance, the world-renowned cryptocurrency exchange, has made a significant announcement that has sent ripples throughout the crypto community. In a recent blog post, the exchange declared its intention to cease support for the Binance USD (BUSD) stablecoin. This decision comes on the heels of Paxos’ move to halt the production of new BUSD coins. By … Read more Binance, the world-renowned cryptocurrency exchange, has made a significant announcement that has sent ripples throughout the crypto community. In a recent blog post, the exchange declared its intention to cease support for the Binance USD (BUSD) stablecoin. This decision comes on the heels of Paxos’ move to halt the production of new BUSD coins. By February 2024, Binance users must transition away from BUSD, prompting them to explore other stablecoin options or…

    Article 2023年9月1日
  • Aptos price analysis: APT price faces rejection at $8.03 as selling pressure persists.

    TL;DR Breakdown Aptos price analysis is bearish today APT/USD is facing resistance at $8.23 Support for APT is present at $7.79 Aptos price analysis for today shows that the APT/USD pair has fallen to a low of $8.03 after a bearish drive. The market sentiment is bearish, and the volume of trading has dropped substantially. The APT price is facing resistance at the $8.23 level and has been unable to make a breakout above this level despite an extended period of consolidation around it. On the other hand, support for Aptos appears strong at the $7.79 level, and it is unlikely that prices will fall below this level in the short term. The price has declined by 2.36 percent in the past 24 hours, and the market capitalization for the coin is currently at $1.58 billion. The 24-hour trading volume is currently at $98 million. Overall, Aptos price analysis today suggests that the APT/USD pair is likely to remain rangebound between the current support and resistance levels in the near future. Aptos price analysis 1-day chart: APT price level drops…

    Article 2023年5月27日
  • Binance announces the integration of the Bitcoin lightning network

    TL;DR Breakdown Binance has announced the integration of the Bitcoin lightning network on its platform. The platform promises swift and cheap transactions. Description In a significant move for the cryptocurrency community, Binance, one of the leading cryptocurrency exchanges, has recently completed the integration of the Bitcoin Lightning Network onto its platform for BTC withdrawals and deposits. This development, confirmed through a blog post on July 17, marks a substantial milestone in enhancing the efficiency and cost-effectiveness of Bitcoin … Read more In a significant move for the cryptocurrency community, Binance, one of the leading cryptocurrency exchanges, has recently completed the integration of the Bitcoin Lightning Network onto its platform for BTC withdrawals and deposits. This development, confirmed through a blog post on July 17, marks a substantial milestone in enhancing the efficiency and cost-effectiveness of Bitcoin transactions for Binance users. Binance users can leverage layer-2 solutions for transactions With the integration of the Lightning Network, Binance users can now utilize the layer-2 scaling solution for their BTC withdrawals and deposits. When users opt to withdraw or deposit Bitcoin, they will…

    Article 2023年7月18日
  • Coinbase’s debt buyback offer upgraded because of this

    Description When the storms roll in, only the most adaptable sail smoothly through. Coinbase, a major player in the crypto exchange world, demonstrated this adaptability, proving once again that, in the fierce seas of cryptocurrency, quick adjustments are key to survival. The Buyback Stumble and the Ensuing Strategy Change Coinbase had launched a substantial debt buyback … Read more When the storms roll in, only the most adaptable sail smoothly through. Coinbase, a major player in the crypto exchange world, demonstrated this adaptability, proving once again that, in the fierce seas of cryptocurrency, quick adjustments are key to survival. The Buyback Stumble and the Ensuing Strategy Change Coinbase had launched a substantial debt buyback program of $150 million earlier this month, showing an intent to regain its financial footing amidst a capricious market. However, the company’s strategy hit a roadblock, encountering a lukewarm response from investors. With expectations set high, the return from this buyback scheme looked more like a trickle than a flood. Merely $50 million of bonds found their way back to Coinbase out of the ambitious target….

    Article 2023年8月23日
TOP