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China's chipmakers bought $38 billion in U.S. and allied tools, a sign policy is failing, lawmakers find [Yahoo! Finance]

TOKYO ELECTRON UNSP/ADR (TOELY) 
NASDAQ:AMEX Investor Relations: tel.com/ir
Company Research Source: Yahoo! Finance
computing chips have allowed China to buy nearly $40 billion of sophisticated chipmaking gear, according to a bipartisan investigation by U.S. lawmakers. U.S. Democratic and Republican administrations have tried to restrict China's ability to make microchips, viewing the industry as crucial for national security. But inconsistencies in rules issued by the United States, Japan and the Netherlands have led to non-U.S. toolmakers selling to some Chinese firms that U.S. companies could not, according to a report by the U.S. House of Representatives Select Committee on China seen by Reuters. The committee called for broader bans by the group of allies on chipmaking tool sales to China, rather than narrower bans of specific Chinese chipmakers. Chinese firms last year bought $38 billion in equipment from five top semiconductor manufacturing equipment suppliers, without breaking the law, a 66% increase from 2022, when many of the tool export restrictions were introduced. It also accou Show less Read more
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