US fines third-largest chipmaker for sales to China

Biden administration cracks down on companies aiding Beijing's military

Semiconductor Manufacturing International Corporation (SMIC) fined $1.9 billion

The United States has fined Semiconductor Manufacturing International Corporation (SMIC), the third-largest chipmaker in the world, $1.9 billion for supplying China's military with advanced semiconductors.

The fine is the largest ever imposed by the US government on a Chinese company and is part of a broader crackdown on companies that are aiding Beijing's military ambitions.

The Biden administration has been increasingly concerned about China's growing military power and its use of advanced technologies to develop new weapons systems.

The administration has accused SMIC of supplying China's military with chips that are used in advanced weapons systems, including missiles and radar systems.

SMIC has denied the allegations, but the US government has provided evidence that the company has supplied chips to Chinese military companies.

The fine is a significant blow to SMIC, which is one of the leading chipmakers in the world.

The company is now facing pressure from both the US and China, and it is unclear how it will be able to survive the sanctions.

The fine is also a warning to other companies that are considering doing business with China's military.

The Biden administration is determined to prevent China from acquiring advanced technologies that could be used to develop new weapons systems.

The fine against SMIC is a clear sign that the administration is willing to take action against companies that are aiding Beijing's military ambitions.