5 hours ago Osmond Chia & Faarea MasudBusiness reporters China’s market regulator has said US computer chipmaker Nvidia has violated Chinese anti-monopoly laws.
Nvidia said it complied with the law “in all respects” and will continue to cooperate with “all relevant government agencies”.
Following the talks, US President Donald Trump hinted that a deal had been reached with China to avert a US ban on TikTok.
The US-China trade talks in Spain were led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.
The talks in Madrid were expected to address the issue of what chips, including those made by Nvidia, would be allowed to enter China.
Five hours ago.
Faarea Masud and Osmond Chia are business reporters.
China’s anti-monopoly laws have been broken by US computer chipmaker Nvidia, according to the country’s market watchdog.
The nation’s market watchdog stated it would keep looking into the situation but did not provide specifics about how Nvidia had broken the law.
Nvidia declared that it complied with the law “in all respects” and committed to working with “all relevant government agencies” going forward.
The announcement was made during the second day of trade negotiations between US and Chinese officials in Spain on Monday, the most recent effort to put an end to the trade war between the two largest economies in the world.
Following the discussions, US President Donald Trump made hints that a deal with China had been reached to prevent TikTok from being banned in the US.
Unless it found a US buyer, the social media app would have been banned in the US.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng led the US-China trade negotiations in Spain.
Mr. Bessent stated after the discussions: “Our conversations were excellent. We will hold trade talks again in about a month at a different location, but we would prefer to keep the conversations on TikTok. “,”.
When Beijing and Washington’s top trade delegations last met in July, they agreed to extend their tariffs truce by an additional ninety days, until November 10.
Prior to the US-China tariff truce, import taxes on each other’s goods had risen to over 100%.
China began looking into Nvidia in December of last year, which was perceived as the most recent retaliation in the US-China competition for the semiconductor chip market.
The US has been imposing stricter regulations on the sale of some exports, such as expensive semiconductors, to Chinese businesses.
The question of which chips, including those produced by Nvidia, would be permitted entry into China was anticipated to be discussed during the Madrid negotiations.
“We will continue to work with all pertinent government agencies as they assess how export controls affect competition in the commercial markets,” Nvidia said in a statement. “.
Trump has changed his mind about the well-known video-sharing app and postponed the ban three times already, despite first advocating for its outlawing during his first term.
Trump claimed in a post on his social media site Truth Social that a deal had been “reached on a ‘certain’ company that young people in our country very much wanted to save.”. On Friday, I will be meeting with President Xi, and they will be overjoyed. The bond between them is still very strong.
The deadline was set to expire on Wednesday, and there had been speculation that it might be extended for a fourth time.
During his first term in office, Trump was a harsh critic of TikTok, but after he became popular on the app during the 2024 presidential election, he changed his mind.
