"The vital flow of chips from China to the car industry in Europe looks poised to resume as part of the deal struck last week between Donald Trump and his Chinese counterpart, Xi Jinping. The Netherlands has signalled that its standoff with Beijing is close to a resolution amid signs China's ban on exports of the key car industry components is easing."
"The dispute began when the Dutch government took control of chipmaker Nexperia at the end of September amid US security concerns about its Chinese owner, Wingtech. Beijing retaliated by halting all exports from Nexperia's factories in the country, threatening to disrupt car production in Europe and Japan. The White House had put Wingtech on a list of companies that would have their exports to the US controlled under its affiliate rule."
"However, as part of the deal between Trump and Xi in Korea, the US authorities will now delay the implementation of this rule for a year in exchange for China pausing its own restrictions on exports of chips and crucial rare-earth minerals. The Netherlands' economy minister, Vincent Karremans, said on Thursday he trusted that Nexperia chips would reach customers in Europe and the rest of the world in the coming days."
Chinese chip exports crucial to European and Japanese car manufacturing look set to restart following a US-China agreement. The Dutch government seized control of Nexperia at the end of September amid US security concerns about its Chinese owner, Wingtech, prompting Beijing to halt exports from Nexperia's factories. The US agreed to delay implementation of its affiliate export-control rule for one year in return for China pausing restrictions on chips and rare-earth mineral exports. The Netherlands' economy minister expressed confidence that Nexperia chips would reach global customers soon. Supplier Aumovio received an exemption and notice that deliveries would resume.
Read at www.theguardian.com
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