The rules tighten eligibility around foreign workers, so employers must meet more stringent criteria around the jobs they’re hiring for and how much they’re paying. That may make it harder for companies to receive H-1B visas as part of the annual lottery that awards 60,000 slots to foreign workers, not including renewals. The new rules follow a June order from President Donald Trump suspending a range of guest worker visa programs through the end of the year, with the White House citing domestic job losses during the COVID-19 pandemic as the motivator.
The tech and IT industries that rely on foreign talent now face more hiring restrictions
The Trump administration says the goal is to ensure companies
SHANGHAI (Reuters) – Chinese chipmaker Semiconductor Manufacturing International Corporation has undertaken “preliminary exchanges” with the U.S. Bureau of Industry and Security regarding export restrictions, the company said on Sunday in a filing.
“The Company is conducting assessments on the relevant impact of such export restrictions on the company’s production and operation activities,” the filing to the Hong Kong Stock Exchange said.
SMIC also said it has been operating in compliance with the relevant laws and regulations of all jurisdictions where it performs its businesses.
The company also advised shareholders and potential investors “to exercise caution when dealing in the securities of the Company.”
In September, Reuters reported that the Bureau of Industry and Security under the Department of Commerce had issued letters informing
HONG KONG (Reuters) – Hong Kong-listed shares of Semiconductor Manufacturing International Corp fell more than 7% on Monday after the United States imposed restrictions on exports to China’s biggest chip maker, citing a risk of military use.
SMIC’s shares fell as much as 7.9% to HK$17.12 ($2.21), the lowest since May 29, and were last down 6.7%.
The company said it had not received any official notice of the restrictions and added it has no ties with the Chinese military.
Suppliers of certain equipment to SMIC will now have to apply for individual export licenses, according to a letter from the U.S. Commerce Department dated Friday and seen by Reuters.
Earlier this year SMIC raised $6.6 billion in a secondary listing on Shanghai’s tech-centric STAR market.
Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China’s largest chipmaker.
The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC’s stock there retreated as much as 5.8% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present “an unacceptable risk of diversion to a military end use,” the department’s Bureau of Industry and Security wrote.
Read more: U.S. Imposes Restrictions on Exports to China’s Top Chipmaker
The U.S. stopped short of placing SMIC on the so-called entity list, which means the restrictions are not yet as severe as
SHANGHAI (Reuters) – China must engage in a new “long march” in the technology sector now that the U.S. has imposed export restrictions on Semiconductor Manufacturing International Corp, the country’s largest chip manufacturer, Chinese state-backed tabloid the Global Times wrote on Sunday.
The unnamed author of an op-ed in the paper here argues that the U.S’ dominance of the global semiconductor industry supply chain is a “fundamental threat” to China.
“It now appears that China will need to control all research and production chains of the semiconductor industry, and rid itself of being dependent on the U.S.,” the author wrote.
On Saturday, Reuters reported that the U.S. had sent letters to companies informing them that they must obtain a license to supply SMIC.
US wariness of Chinese tech firms was underlined again Friday, when the Commerce Department reportedly sent a letter to companies in the states telling them they must get a license before exporting certain goods to China’s largest chipmaker, because of concerns about military use of technology.
The Commerce Department said in the letter that exports to Semiconductor Manufacturing International Corporation “may pose an unacceptable risk of diversion to a military end use in the People’s Republic of China,” according to a report Saturday by The New York Times.
Last year, the US placed restrictions on companies selling gear to Chinese telecommunications giant Huawei, over concerns about Huawei’s relationship with the Chinese government and fears that its equipment could be used to spy on other countries and companies.
The US Commerce Department has added China’s largest chipmaker, Semiconductor Manufacturing International Corporation (SMIC), to its entity list, after it determined there an “unacceptable risk” that equipment SMIC received could be used for military purposes,Reuters reported.
The move blocks US computer chip companies from exporting technology to SMIC without an export license. SMIC is the latest major Chinese firm to be put on the entity list; the Trump administration added phone manufacturer Huawei to the list in 2019.
According to The Wall Street Journal, the Commerce Department wrote in a letter to the computer chip industry on Friday that exporting products to SMIC would “pose an unacceptable risk of diversion to a military end use in the People’s Republic of China.”
In April, the administration tightened export rules on shipping goods to China. It claims it’s seeking to keep US companies from selling products that could be used
WASHINGTON — The Trump administration has placed new restrictions on exports to Semiconductor Manufacturing International Corporation, China’s most advanced maker of computer chips, a measure that could deepen the technology conflict between China and the United States.
In a letter on Friday, the Department of Commerce told American companies in the chip industry that they must first acquire a license to sell technology to SMIC and its subsidiaries. The department said it was taking the action after a review in which it determined that the Chinese company “may pose an unacceptable risk of diversion to a military end use in the People’s Republic of China.”
The measure, which could cut SMIC off from the American software and other technology it needs to make its products, comes as the Trump administration takes a harsher stance against Chinese technology companies that it has deemed a national security threat. The administration has clamped