President Trump and Chinese President Xi Jinping are set to meet at the Asia-Pacific Economic Cooperation (APEC) Summit that begins on October 31, although the two sides have exchanged trade restrictions in recent days that could put pressure on negotiations.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
On Friday, Beijing’s Transport Ministry announced new fees on ships built and owned by U.S. companies and individuals, effective October 14. In addition, China has sent additional customs officers to major ports across the country to enforce tighter screening on semiconductor imports, according to the Financial Times.
China Tightens Restrictions on Nvidia amid Qualcomm Antitrust Allegations
China seeks to boost its domestic semiconductor industry and previously provided guidance for local companies to stop using and ordering Nvidia (NVDA) chips.
Furthermore, China’s State Administration of Market Regulation (SAMR) announced that it would launch an antitrust investigation into Qualcomm (QCOM) over its acquisition of Autotalks. Last month, a preliminary probe from SAMR concluded that Nvidia’s acquisition of Mellanox in 2020 violated China’s antitrust laws.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.