00:00Reuters is reporting that Washington has ordered American chip equipment manufacturers to halt certain shipments to a major Chinese chipmaker.
00:08The Commerce Department ordered the restrictions on certain items meant for Huahong, China's second biggest chip firm.
00:14It comes as part of Washington's efforts to slow China's ability to produce advanced chips, especially those used in AI
00:21amid rising national security concerns.
00:24Reuters cited industry insiders who said the move could cost U.S. firms billions in lost sales.
00:30It comes ahead of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping in May.
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