Finance
Senator Tom Cotton urges Commerce Secretary to restrict Chinese chipmaker CXMT
Sen. Tom Cotton has sent a letter asking Commerce Secretary Howard Lutnick to place Chinese memory chip manufacturer CXMT on the Bureau of Industry and Security Entity List. Cotton argues the company poses growing risks to economic prosperity and military superiority.
Senator Tom Cotton is pressing the Trump administration to take a stricter approach against ChangXin Memory Technologies by adding the firm to the Department of Commerce Entity List. Doing so would significantly restrict U.S. firms from doing business with the Chinese memory maker and block its access to U.S. technology. CXMT is the world's fourth-largest producer of DRAM, which powers computers and smartphones, and has been expanding its market share. Cotton's push comes as the company faces scrutiny over potential future production capabilities and existing listings related to ties with Beijing's military.
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