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Why is the EU considering trade restrictions on Indian, Chinese firms?

Livemint

Livemint · 1y ago

Why is the EU considering trade restrictions on Indian, Chinese firms?

The European Union (EU) has proposed sanctions on several companies, including one from India and three from China, for allegedly supporting Russia's war in Ukraine. The proposed trade restrictions aim to prevent European firms from engaging in trade with these companies, which are accused of contributing to Russia's military and technological capabilities. The EU's move would mark the first instance of imposing sanctions on mainland Chinese companies since the invasion of Ukraine. However, the issue of listing Chinese firms has faced resistance from certain EU member states due to their trade relations with China.

Related News

EU proposes sanctions on Indian, Chinese and other firms for aiding Russia

Livemint

Livemint · 1y ago

EU proposes sanctions on Indian, Chinese and other firms for aiding Russia

The European Union has proposed trade restrictions on approximately 24 companies, including three from China, for allegedly supporting Russia's actions in Ukraine. This would be the first time the EU imposes restrictions on Chinese firms in relation to the Ukraine conflict. The list also includes companies from Hong Kong, Serbia, India, and Turkey. The proposed restrictions aim to prevent European firms from trading with these listed companies, as part of the EU's efforts to control Russia's access to sanctioned goods. The sanctions need approval from all member states before adoption.

Trump administration weighs sanctions on officials implementing EU tech law, sources say - The Economic Times

Economic Times

Economic Times · 3d ago

Trump administration weighs sanctions on officials implementing EU tech law, sources say - The Economic Times

The Trump administration is considering sanctions against EU officials over the Digital Services Act, seen as censoring Americans and imposing costs on US tech firms. The move could result in visa restrictions, escalating tensions between the US and EU. The Digital Services Act aims to create a safer online environment by tackling illegal content. The US argues the Act imposes undue restrictions on free expression, while the EU maintains freedom of expression is central to the Act.

Nvidia plans China research centre as export curbs bite: Report

Economic Times

Economic Times · 3m ago

Nvidia plans China research centre as export curbs bite: Report

Nvidia is planning to establish a research and development center in Shanghai due to tighter US export restrictions impacting its Chinese sales. These restrictions prevent Nvidia from selling advanced AI chips to China, intensifying competition from local firms like Huawei. The proposed center will focus on understanding Chinese customer needs and adhering to export controls, while core design and production remain outside China. Nvidia maintains its commitment to the Chinese market and its US-China trade interaction.

ETtech Explainer: How Trump tariffs hit Nvidia’s China business, and stock

Economic Times

Economic Times · 4m ago

ETtech Explainer: How Trump tariffs hit Nvidia’s China business, and stock

The U.S.-China trade tensions are affecting Nvidia's business as the U.S. imposes export restrictions on Nvidia's H20 AI chips. This threatens $5.5 billion in potential sales and impacts other tech firms reliant on Nvidia chips in China. Nvidia's CEO has met with Chinese officials to address stability issues. The restrictions may accelerate China's domestic chip development and hit U.S. tech firms' revenues, including AMD. Nvidia's shares dropped significantly in response.

Foxconn feels the China squeeze in India - The Economic Times

Economic Times

Economic Times · 1m ago

Foxconn feels the China squeeze in India - The Economic Times

Foxconn's recall of over 300 Chinese engineers from Indian iPhone manufacturing plants, possibly prompted by Beijing, may disrupt short-term operations and affect the broader electronics manufacturing ecosystem. Indian firms are concerned about potential Chinese machinery access restrictions, which could hinder expansion, particularly affecting smaller companies reliant on affordable Chinese equipment. Despite potential challenges, experts believe major firms like Foxconn likely anticipated such geopolitical risks, and there may be opportunities for Indian firms to step up.

China may relax rare earth export curbs for some chip companies

Economic Times

Economic Times · 3m ago

China may relax rare earth export curbs for some chip companies

China is considering easing rare earth export controls for certain Chinese and European semiconductor companies, according to state media. Initially, China placed export restrictions on rare earths, requiring all exporters to obtain licenses, causing delays and confusion. The potential relaxation follows discussions between Chinese officials and European semiconductor firms about accelerating approval processes to stabilize supply chains. European industries have expressed urgent concerns over potential production halts due to input shortages.

Magnet crunch: Indian firms pitch supply chain plans to curb China’s rare earth dominance

Economic Times

Economic Times · 2m ago

Magnet crunch: Indian firms pitch supply chain plans to curb China’s rare earth dominance

Facing a rare earth magnet supply crunch due to China's export restrictions, Indian companies are proposing in-house magnet supply chains to the government. Midwest Advanced Materials and Entellus plan to produce locally, while Indian Rare Earths aims to match China's pricing. Dependence on Chinese imports has hindered past domestic magnet production. The government is considering a ₹3,500–5,000 crore incentive scheme to boost local production and reduce reliance on China for critical components.

China electronics entry may hinge on tech transfer JVs with Indian firms - The Economic Times

Economic Times

Economic Times · 1m ago

China electronics entry may hinge on tech transfer JVs with Indian firms - The Economic Times

India may support Chinese investments in its electronics sector if they involve joint ventures with local firms and ensure technology transfer rather than merely setting up assembly units. This approach aims to boost domestic manufacturing and increase local value addition in electronics. The Ministry of Electronics and IT supports easing investment norms from China to develop India's electronics ecosystem, even amid concerns over trade tensions and restrictions on rare earth materials.

China's export curbs to impact electronics, solar, EV firms in India: GTRI

YourStory

YourStory · 7m ago

China's export curbs to impact electronics, solar, EV firms in India: GTRI

India's electronics, solar, and EV sectors face disruptions due to China's export restrictions on key inputs and machinery, possibly a response to India's limits on Chinese investments. The Global Trade Research Initiative highlights the geopolitical tensions and trade wars. China's curbs impact India's industries reliant on Chinese imports but also affect China's own economy. India is urged to enhance local manufacturing, diversify supply chains, and strengthen partnerships with countries like Japan and South Korea to reduce dependency on China.

Trump’s tariff threat, China’s retaliation leave Apple stuck between a rock and a hard place - The Economic Times

Economic Times

Economic Times · 1m ago

Trump’s tariff threat, China’s retaliation leave Apple stuck between a rock and a hard place - The Economic Times

Apple is facing challenges from both the U.S. and China, with tariffs potentially impacting its manufacturing plans. China is retaliating by pulling Chinese workers from Apple's Indian facilities and tightening tech restrictions. India is trying to reduce its dependence on China by ramping up domestic electronics production, aiming for 38% value addition in five years. Meanwhile, Vietnam capitalizes on trade deals with the U.S., potentially threatening India's aspirations as a key Apple manufacturing hub.

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