U.S. mulls tougher trading curbs in chip crackdown on China, Bloomberg reports

The Biden administration is considering a wide-sweeping crackdown to clamp down on companies exporting their chipmaking equipment to China if companies such as Tokyo Electron (TOELY) and ASML (ASML) continue giving the country access to advanced semiconductor technology, Bloomberg’s Mackenzie Hawkins, Ian King, Cagan Koc, and Takashi Mochizuki report. According to people familiar with the matter, the U.S. is considering whether to impose a measure called the foreign direct product rule, which lets the country impose controls on foreign-made products that use even the tiniest amount of American technology. Chip stocks moving lower include Nvidia (NVDA), Advanced Micro Devices (AMD), Intel (INTC), Qualcomm (QCOM), NVIDIA (NVDA), Marvel (MRVL), Texas Instruments (TXN), Micron (MU), Microchip (MCHP), and TSMC (TSM).