Beijing’s top trade negotiator, Wang Shouwen, met Nvidia’s Jay Puri on Monday amid rising tensions over U.S. restrictions on China’s semiconductor industry.
Wang, China’s vice commerce minister and a prominent trade negotiator, held discussions with Puri, Nvidia’s executive vice-president for worldwide field operations. While the meeting’s specifics remain undisclosed, it took place as Washington is reportedly set to tighten restrictions on Chinese chip companies.
Reports suggest the Biden administration may add up to 200 Chinese chip firms to a trade blacklist. Additionally, the U.S. is expected to unveil further curbs on shipments of high-bandwidth memory chips to China in December.
Although Washington has not confirmed these new measures, China’s foreign ministry vowed to take firm actions to safeguard its business interests.
Nvidia, the leading AI chip designer, is already barred from selling its advanced chips in China. Despite this, Nvidia CEO Jensen Huang reaffirmed the company’s commitment to operating in mainland China.
Speaking in Hong Kong over the weekend, Huang acknowledged China’s unique strengths in AI and other industries, despite growing geopolitical tensions.
The restrictions have caused ripples in the supply chain, with Hong Kong-based PC Partner Group scaling back its mainland China operations due to increasing pressure in the tech industry. Wang Shouwen emphasized Beijing’s readiness to engage in dialogue with Washington to prevent further escalation of trade tensions and maintain cooperation.
China’s foreign ministry, reacting to reports of the looming U.S. sanctions, reiterated its commitment to safeguarding national interests. The sanctions, if implemented, could mark another chapter in the intensifying U.S.-China trade and tech rivalry, impacting global semiconductor dynamics.
