EU Tech Companies Reportedly Furious at US for Shutting Them Out of China to Get Competitive Edge | WHAT REALLY HAPPENED

EU Tech Companies Reportedly Furious at US for Shutting Them Out of China to Get Competitive Edge

The US has slapped Chinese technology companies with multiple rounds of sanctions, recently adding Semiconductor Manufacturing International Corporation, China’s biggest microchip maker, to its technology exports blacklist. All this while the Treasury has granted exemptions to US tech giants, allowing them to continue to do business with the PRC.

European diplomats and tech executives are becoming "increasingly frustrated" with America’s unilateral sanctions against China, and fear that the restrictions are barring the bloc’s companies from entering the Chinese market, thus giving American firms enjoying exemptions a competitive advantage, the Financial Times has reported, citing business and diplomatic sources.

“So far, US companies have been given licenses to supply Huawei, while European suppliers cannot,” one anonymous executive told the newspaper.

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