U.S. Commerce Secretary Gina Raimondo recently said that the Biden administration will continue to blacklist Huawei on trade sanctions and will not take action against TikTok for the time being, but will continue to evaluate President Trump’s implementation of tariff policies against China.
In an interview with Yahoo Finance, Raimondo stressed that Washington continues to crack down on Chinese companies that could threaten U.S. national security, and will significantly increase high-tech investments in the U.S. mainland to enhance the U.S. ability to resist the Chinese Communist threat.
“Since I took office, I still have Huawei on the list of entities and don’t see any reason to lift sanctions on Huawei; in addition, five to six other Chinese companies are on the list of entities, including a quantum computing company, and I think it’s necessary to continue to guard against Chinese companies that threaten U.S. national security”, Raimondo said.
Huawei executive Yu Chengdong also recently re-exposed himself to the four rounds of U.S. sanctions that have left Huawei struggling, many products can not be produced and can not be shipped; Huawei’s main cell phone business has been hit hard, forced to turn to pig farming, fish farming and other businesses in order to survive.
Data from Counterpoint Research, a leading global research firm, shows that in the first quarter of 2021, Huawei’s cell phone shipments plummeted by 18%, leaving it with a global market share of just 4%, while South Korea’s Samsung ranked first in the world with 77 million units shipped, with a 23% market share and 32% annual growth.
The world is facing a severe chip shortage due to the impact of the epidemic and tensions between the U.S. and China, and it is estimated that the shortage of semiconductor chips will cause automakers to see a loss of $110 billion this year; therefore, Commerce Secretary Raimondo and South Korean President Moon Jae-in announced on the 21st that the two sides have reached an agreement to strengthen cooperation in a range of areas, including the production of the new crown (CCP virus) vaccine, electric vehicle batteries and semiconductor production .
South Korea is eager to get the new crown (CCP virus) vaccine allowed to be exported by the U.S., while the U.S. seeks help from allies such as South Korea to alleviate the chip shortage that led to the shutdown of the car factory, outside analysis, the close and mutually beneficial cooperation between the two countries shows that South Korea has finally chosen a good side to stand on the side of the United States.
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