DEVELOPING: China Lifts Export Controls on Nexperia Chips Amid Global Tech Concerns

Breaking News: China Lifts Export Controls on Nexperia Chips Amid Global Tech Concerns China has lifted export controls on computer chips vital to car production, the country's commerce ministry announced Sunday. The exemptions apply to exports made by Chinese-owned Nexperia for civilian use, which should help carmakers who feared production in Europe would be hit. The immediate impact is that carmakers will no longer face production disruptions due to the export ban. Nexperia, a Dutch-based company owned by Chinese company Wingtech, had seen its finished chips blocked by China in response to the Dutch government's takeover of the firm. The background context is that China had imposed export controls on Nexperia's chips in October, following the Dutch government's move to safeguard the European supply of semiconductors. The move was seen as a trade dispute escalation between Beijing and Washington. China has also paused an export ban to the US of some materials crucial in the semiconductor industry and suspended port fees for American ships. The moves mark an easing of trade tensions between Beijing and Washington after President Xi Jinping and US President Donald Trump agreed to reduce tariffs and pause other measures for a year. This is a developing story, and we will provide updates as more information becomes available.