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Investing.com -- Dutch chip maker Nexperia announced Tuesday it is facing export restrictions from both the United States and Chinese governments, as the company navigates increasing geopolitical tensions in the semiconductor industry.
The company, a subsidiary of China’s WingTech, stated it is currently engaged in negotiations with authorities from both countries to obtain exemptions from these controls.
On October 4, the Chinese government imposed certain export restrictions on Nexperia’s Chinese operations. The company said it is in talks with Chinese authorities seeking exemption from these controls.
Simultaneously, Nexperia confirmed it is affected by new US Entity List rules due to its status as a subsidiary of China’s WingTech. However, the company noted it currently benefits from a 60-day grace period exempting it from US Entity List restrictions and expressed confidence in reaching a solution with the US regarding exports.
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