September 02, 2024 at 11:57PM
Bloomberg carried the report overnight. Bloomberg is gated, but in brief.
In July, Japan started restricting exports of 23 types of semiconductor manufacturing equipment, aligning with U.S. efforts to limit China’s ability to produce advanced chips. China has responded by warning Japan of significant economic consequences if Japan further limits the sales and servicing of chipmaking equipment to Chinese companies.
Toyota Motor privately informed Japanese officials that China might retaliate by restricting Japan’s access to minerals necessary for car manufacturing.
Chinese officials have repeatedly communicated this stance to their Japanese counterparts in recent meetings.
China’s foreign ministry expressed opposition to actions that disrupt global supply chains, politicize economic cooperation, and impose technological blockades against China.
China stated its commitment to maintaining global production and supply chain stability while implementing fair export control measures.
This article was written by Eamonn Sheridan at www.forexlive.com.
