Date
25 May 2017
Memory chips made by Micron Technology, the acquisition target of Tsinghua Unigroup. Photo: Bloomberg
Memory chips made by Micron Technology, the acquisition target of Tsinghua Unigroup. Photo: Bloomberg

US senator wants to block China bid for chip maker

An influential US senator called on officials to block a Chinese state-controlled firm’s attempt to buy a major US maker of memory chips.

Senator Charles Schumer called for a committee that reviews foreign acquisitions of US businesses to block Tsinghua Unigroup Ltd.’s pursuit of Micron Technology Inc.

The deal would be the largest-ever Chinese acquisition of a US firm.

“I am deeply concerned with the national security implications of allowing China to gain market control over the production of components tied to modern US defense systems, potentially including Micron’s memory chips,” Schumer wrote in a letter Wednesday to Treasury Secretary Jack Lew, who leads the committee.

Schumer’s letter highlighted the latest wave of anti-China sentiment in Congress, The Wall Street Journal reported.

US lawmakers lashed out this week at Beijing’s move to devalue its currency against the US dollar.

They expressed deep mistrust over policies ranging from China’s efforts to expand its military presence in the Pacific to public allegations of cyberspying and frustration over Beijing’s efforts to limit foreign investment.

Tensions are rising as President Barack Obama prepares to host President Xi Jinping for a state visit, the report said.

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