U.S. markets closed
  • S&P 500

    4,205.45
    +54.17 (+1.30%)
     
  • Dow 30

    33,093.34
    +328.69 (+1.00%)
     
  • Nasdaq

    12,975.69
    +277.59 (+2.19%)
     
  • Russell 2000

    1,773.02
    +18.42 (+1.05%)
     
  • Crude Oil

    72.87
    +1.04 (+1.45%)
     
  • Gold

    1,964.90
    +2.60 (+0.13%)
     
  • Silver

    23.44
    +0.53 (+2.34%)
     
  • EUR/USD

    1.0731
    0.0000 (-0.00%)
     
  • 10-Yr Bond

    3.8100
    -0.0040 (-0.10%)
     
  • GBP/USD

    1.2349
    +0.0028 (+0.22%)
     
  • USD/JPY

    140.5950
    +0.5440 (+0.39%)
     
  • Bitcoin USD

    26,761.85
    +131.79 (+0.49%)
     
  • CMC Crypto 200

    594.83
    +7.64 (+1.30%)
     
  • FTSE 100

    7,627.20
    +56.33 (+0.74%)
     
  • Nikkei 225

    30,916.31
    +115.18 (+0.37%)
     

U.S. 'won't tolerate' China's ban on Micron chips, Raimondo says

FILE PHOTO: The company logo is seen on the Micron Technology Inc. offices in Shanghai
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

DETROIT (Reuters) - The United States "won't tolerate" China's effective ban on purchases of Micron Technology memory chips and is working closely with allies to address such "economic coercion," U.S. Commerce Secretary Gina Raimondo said on Saturday.

Raimondo told a news conference after a meeting of trade ministers in the U.S.-led Indo-Pacific Economic Framework talks that the U.S. "firmly opposes" China's actions against Micron.

These "target a single U.S. company without any basis in fact, and we see it as plain and simple economic coercion and we won't tolerate it, nor do we think it will be successful."

(Reporting by David Lawder; Editing by Chizu Nomiyama)