Protecting Memory Chip Supply: New Sanctions on Foreign Companies.
This act aims to protect U.S. memory chip supplies by imposing sanctions on selected foreign flash memory integrated circuit companies that may threaten U.S. interests. Citizens might indirectly experience impacts on the availability and pricing of certain electronic products if these companies are key suppliers.
Key points
Asset Blocking: The U.S. President can block property and transactions of companies meeting specific criteria, such as being linked to governments of countries deemed a concern.
Purpose: The act seeks to reduce reliance on foreign memory chip suppliers, especially those connected to China, to enhance national security.
Exceptions: Sanctions do not apply to the importation of goods or intelligence activities, and the President can temporarily waive them for national security interests.
Expired
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