U.S. ‘won’t tolerate’ China’s ban on Micron chips, Raimondo says By Reuters

© Reuters. FILE PHOTO: The corporate brand is seen on the Micron Expertise Inc. workplaces in Shanghai, China Could 25, 2023. REUTERS/Aly Track

DETROIT (Reuters) – The US “will not tolerate” China’s efficient ban on purchases of Micron Expertise (NASDAQ:) reminiscence chips and is working intently with allies to deal with such “financial coercion,” U.S. Commerce Secretary Gina Raimondo mentioned on Saturday.

Raimondo informed a information convention after a gathering of commerce ministers within the U.S.-led Indo-Pacific Financial Framework talks that the U.S. “firmly opposes” China’s actions in opposition to Micron.

These “goal a single U.S. firm with none foundation in reality, and we see it as plain and easy financial coercion and we can’t tolerate it, nor do we predict it will likely be profitable.”