Picture This: Mainland China Launches Review of US Semiconductor Exports

What we know

Mainland China has initiated an anti-dumping investigation into US analog chips, with Chinese imports of such chips surging 324.9% year-over-year to a record high in July. ​

Related Chinese government actions include a three-month anti-discrimination review of US technology trade actions, a ruling against Nvidia's acquisition of Mellanox, and discouragement of domestic use of Nvidia's AI systems.​

What's next

The outcome of the anti-dumping investigation could take up to 12 months, with potential earlier actions affecting US exports.​

Presidents Trump and Xi are expected to meet at the APEC summit in October, potentially paving the way for a provisional agreement on tariffs and commercial relations.​

Why this matters

Tech sector disputes heighten risks of supply chain disruption, affecting companies reliant on semiconductor imports and exports, particularly in the automotive and industrial sectors.​

Mainland China will likely seek further relaxation of US technology restrictions in exchange for concessions on trade or market access.​

The additional Chinese actions cited may indicate positioning for Section 232 decision. One potential outcome would be implementation of Chinese countermeasures like tariffs and market access restrictions against the US.​

Outcomes from the APEC summit and related negotiations will shape US-China trade relations into 2026, with wider implications for global trade relationships.​

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.