U.S. lawmakers push for blacklisting China’s Huawei, SMIC

A group of senior U.S. House Republicans, including chairs of various committees, has called on the Biden administration to take a tougher stance on Huawei and China’s leading semiconductor firm, Semiconductor Manufacturing International Corp (SMIC). This move comes after reports indicated that Huawei has developed an advanced smartphone.

The lawmakers have urged the Commerce Department to stop granting licenses to Chinese government-controlled companies like SMIC. They have called for additional pressure and more effective export controls on U.S. adversaries.

In their letter, the lawmakers have called on the administration to “strategically bar the import of SMIC-produced semiconductors, particularly those that pose risks to national security, into the United States.” They also called for the administration to “pursue criminal charges against executives from SMIC and Huawei.”

Huawei and SMIC have not yet responded to these requests.

The Commerce Department, which is responsible for handling such matters, has not provided immediate comments on this letter but did mention recently that it’s working to obtain more information about the chip in question.

Huawei was added to a trade blacklist in 2019 due to national security concerns, while SMIC was added to the entity list in 2020 over concerns about technology diversion to military users. Despite being on these trade lists, some suppliers have received licenses worth billions of dollars to sell U.S. technology to these companies.

The House letter also requested that the Commerce Department “revoke all existing licenses for SMIC and Huawei.”

The ongoing concerns about these Chinese companies reflect broader tensions in the tech and trade relationship between the U.S. and China.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Cheap valuations abroad fuel record shift from U.S. to global equities

The surge in July inflows into global ex-U.S. equity funds, the strongest in more than four and a half years, marks a significant reallocation of capital away from U.S. markets toward Europe, Asia, and select emerging economies. These funds attracted $13.6 billion during the month, while U.S.-focused equity funds saw $6.3 billion in outflows, their third consecutive month of redemptions.

The scale of this divergence reflects more than just tactical positioning; it suggests that global investors are reassessing U.S. assets against a shifting macroeconomic and geopolitical backdrop.

Asia welcomes resumption of crude oil shipments from Norway’s Sverdrup field

Crude oil from Norway’s Johan Sverdrup oilfield has resumed its journey to Asia after a hiatus of several months. This renewed flow to Asia had paused due to a closed arbitrage window and robust demand from Europe. Initially, Sverdrup crude found favor in Asia after its market introduction in late 2019…

China’s growth target may hold, but deflation and weak consumption darken outlook

China is heading into its year-end data dump with a growth story that looks increasingly unbalanced: factories and exporters are still generating momentum, but households and private-sector investors are behaving as if the recovery never fully arrived.

Economists surveyed ahead of the January release expect fourth-quarter GDP growth of roughly 4.5% year on year, which would make late-2025 the softest quarter since the post-lockdown rebound phase and underscore how much of the headline expansion is being carried by the tradables side of the economy rather than domestic demand.

Stay informed

error: Content is protected !!