U.S. Slaps Restrictions on Chinese Chipmaker and Other Companies Over National Security Worries

One of the companies added to the so-called entity list was Yangtze Memory Technologies Corporation, or YMTC, a key Chinese chipmaker that had previously been added to the U.S. Unverified List, another trade-restricting designation.

"YMTC poses an immediate threat to our national security, so the Biden Administration needed to act swiftly to prevent YMTC from gaining even an inch of a military or economic advantage," Schumer said.

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