The writer is author of ‘Chip War’
Donald Trump and Xi Jinping both smiled for the cameras at their summit last month but neither side has mistaken the tech truce for peace. Beijing has continued shipping some rare-earth magnets to the US, while Washington will postpone long-delayed restrictions on Chinese chipmakers. Behind the scenes, however, each side is sharpening its knives for a new wave of supply chain conflict.
Right before the summit, Beijing announced a sweeping set of regulations to penalise foreign companies for complying with third-party sanctions. This will be a powerful tool to squeeze multinationals to take China’s side amid future supply chain escalation.
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