Path to China Chips Ban Goes Through Korea, Says US Envoy
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Path to China Chips Ban Goes Through Korea, Says US Envoy
(Bloomberg) -- The US is in discussions with Japan, the Netherlands and South Korea to restrict semiconductor exports to China, and it needs all parties to agree on a deal, US Ambassador to Japan Rahm Emanuel said in an interview.
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Stressing the importance of South Korean and Dutch cooperation alongside Japan, he was speaking by phone days ahead of Prime Minister Fumio Kishida’s summit with President Joe Biden on Friday. The two allies will endorse a joint statement covering a wide range of security issues, but work is continuing on a chip industry restriction deal, he said.
“You’ve got to work through not just Japan but you’ve got to work through obviously Korea, you’ve got to work through the Dutch,” Emanuel said. “It’s going to take a lot of work.”
South Korea is home to two of the world’s leading memory chipmakers, Samsung Electronics Co. and SK Hynix Inc., while the Netherlands has ASML Holding NV, maker of the world’s most advanced chip lithography systems. Japan, whose businesses provide essential machinery and materials for chip fabricators, also plays a critical role in the industry’s supply chain. Washington hopes to align all three nations in pursuing its stricter measures on China exports.
“All the parties are at the table, all the parties have a mutual shared interest in the outcome. Everybody has different aspects of the industry,” Emanuel said. The deal being sought “will not be just bilateral,” he said. “It must be multilateral.”
The Korean government is not in discussions with the US regarding participation in American restrictions on exports to China, according to a trade ministry spokesman.
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