EU: China To Ease Licensing Controls on Europe-Bound Nexperia Chips

The EU says China has agreed to relax licensing controls on Nexperia chips that threatened Europe's auto industry.

Transcript

00:00The EU's top trade official says China has agreed to resume the flow of Nexperia chips to Europe

00:05as long as they are used for civilian purposes.

00:09The Chinese branch of the Netherlands-based company makes chips that are crucial for Europe's car industry.

00:15But after the Dutch government took control of the company in October over security concerns,

00:20China imposed strict licensing rules on Finnish chips.

00:24While the EU sees this as a sign of easing of tensions,

00:27China says further talks with the Netherlands are still needed.