DETROIT, May 27. U.S. Commerce Secretary Gina Raimondo stated on Saturday that the United States “won’t tolerate” China’s effective ban on sales of Micron Technology (MU.O) memory chips and that it is collaborating closely with partners to combat such “economic coercion”.
At a press conference following a meeting of trade ministers in the Indo-Pacific Economic Framework negotiations, Raimondo stated that the United States “firmly opposes” China’s measures against Micron.
These “target one U.S. company without any factual foundation, and we see it as plain and simple economic coercion and we won’t tolerate it, nor do we think it will succeed.”
The largest manufacturer of memory chips in the United States, Micron, was informed on May 21 by China’s cyberspace authority that it had failed a network security examination and would be prohibited from selling to operators of critical infrastructure, which caused the business to project a decline in revenue.
The action was taken a day after Raimondo, a G7 industrial democracy leader, announced fresh steps to counter China’s economic coercion.
