US-China trade tension escalate
(VOVWORLD) - Chinese Ministry of Commerce spokesperson Gao Feng said on Thursday that conducting security checks on foreign investments in sensitive sectors is a nation’s legitimate right, but it should not be used as a tool for protectionism.
The statement came after a decision by the Committee on Foreign Investment in the United States to oppose the purchase of a US chipmaker by a Chinese-backed private equity firm, saying the transaction poses a risk to US national security. Gao said China is concerned about the matter and feels the US should create a fair and transparent business environment.
Chinese Ministry of Commerce spokesperson Gao Feng (Source: news.cgtn.com)
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US President Donald Trump on Wednesday blocked Chinese firm Canyon Bridge from buying US chipmaker Lattice Semiconductor Corp. Canyon Bridge Capital’s planned 1.3 billion USD acquisition of Lattice Semiconductor Corp was one of the largest ever attempted by a Chinese-backed firm in the US microchip sector and was the first announced deal for the buyout fund, which was launched last year.