U.S. Weighing New Sanctions on Chinese Tech Firms

The United States Commerce Department is reportedly contemplating the addition of several Chinese tech companies to its 'Entity List,' according to sources cited by the Financial Times. Notable companies such as ChangXin Memory and subsidiaries of Semiconductor Manufacturing International Corporation and Yangtze Memory Technologies Co. are among those potentially affected.

The Bureau of Industry and Security has already prepared a draft list naming these organizations, reflecting persistent trade tensions between the U.S. and China. This move highlights ongoing challenges in the semiconductor industry.

The timing for this action is intricate, as it coincides with a recently finalized trade agreement between the two nations. The decision is expected to significantly impact U.S.-China relations, already strained by previous tariff disagreements.

(With inputs from agencies.)