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FriedButter

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American and European automakers are not the only ones hurt by China's Nexperia export ban. Other European companies are also affected, such as Bosch, ASML, Siemens, and Airbus. It's as though Europe is not deindustrializing fast enough for the pleasure of the Trump regime.

Time for Europe to step up and import Chinese washing machines by a thousandfold.
 

FriedButter

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Dutch government in talks with China over Nexperia export controls​

AMSTERDAM, Oct 17 (Reuters) - The Netherlands is in talks with China over export controls imposed on the Chinese-owned chipmaker Nexperia, which has become tangled up in the trade frictions between the U.S. and China.

The Dutch government stepped in on September 30 to take control of Nexperia, which makes chips for carmakers and for consumer electronics, citing worries about the possible transfer of technology to Nexperia's Chinese parent company, Wingtech (600745.SS), opens new tab.

The Chinese commerce ministry then issued an export control notice on October 4 prohibiting Nexperia China and its subcontractors from exporting specific finished components and sub-assemblies manufactured in China.

"The situation regarding the Nexperia facilities in China, where export control measures have been applied, naturally has our full attention," the Dutch economy ministry said in a statement on Friday.

"We are in discussions about resolving this matter with the Chinese authorities, as well as other relevant European governments and businesses."

Major automakers have said the chip disruption stemming from the dispute between China and the Dutch government could quickly impact production, as Nexperia's chips are needed for the production of parts and vehicles.

Nexperia is one of the largest makers globally of basic chips such as transistors that are not technically sophisticated but are needed in large volumes.

Its biggest manufacturing site is in Hamburg, Germany, but most of its chips are packaged and assembled into larger products in China.

Zero expectations. I don’t believe the US Dutch territories will come in good faith either.
 

Mt1701d

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Zero expectations. I don’t believe the US Dutch territories will come in good faith either.
I still find it amazing that the Dutch forcefully take control of a company that is fully owned by a company in another country and expects everything to be business as usual.

Like, what sort of “talks” are they expecting? ‘Yeah, we stole control of your company, but can you let me keep doing business? Pretty Please!’. What sort of moron even thinks there is anything to talk about.
 

FriedButter

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Another bailout for Argentina.

Trump administration working on doubling Argentina financing to $40 billion​

WASHINGTON (AP) — The Trump administration is looking to provide an additional $20 billion in financing for Argentina through a mix of financing from sovereign funds and the private sector.

That would come on top of the $20 billion credit swap line that the U.S. Treasury pledged to Argentine President Javier Milei and his government this month to bolster the South American nation’s collapsing currency.

“We are working on a $20 billion facility that would complement our swap line, with private banks and sovereign funds that, I believe, would be more focused on the debt market,” Treasury Secretary Scott Bessent told reporters Wednesday. He called it “a private-sector solution” and said “many banks are interested in it and many sovereign funds have expressed interest.”

At a White House meeting Tuesday with Milei, Republican President Donald Trump said his administration wanted to help “our neighbors” with the aid package, but he also suggested that the money could be pulled if Milei’s party did not prevail in the Oct. 26 midterm elections.

“If he loses, we are not going to be generous with Argentina,” Trump said.

The Argentine peso weakened slightly Wednesday after Trump’s comments. The peso depreciated about 0.7%, with the dollar — the currency Argentines rely on to save — trading at 1,395 pesos, compared with 1,385 pesos the previous day.

On Wall Street, shares of major Argentine companies rose slightly after dropping as much as 8.1% Tuesday upon Trump’s comments.

In Argentina, the opposition’s criticism was swift.

Former President Cristina Fernández, who is under house arrest after a corruption conviction, wrote on social media: “Trump to Milei in the United States: ‘Our agreements depend on who wins election.’ Argentines … you already know what to do!”

Martín Lousteau, president of the centrist Radical Civic Union, said “Trump doesn’t want to help a country — he only wants to save Milei,” and that “nothing good can come of this.”

Maximiliano Ferraro, head of the opposition Civic Coalition, called Trump’s comments “a blatant act of extortion against the Argentine Nation.”
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FriedButter

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China's export ban on Nexperia chips based on incorrect assumptions, Dutch Ministry says​

The Chinese government acted based on incorrect assumptions when it imposed export restrictions on chip manufacturer Nexperia in response to the Dutch government intervening in the company’s operations, caretaker Minister Vincent Karremans (Economic Affairs) said before the weekly Cabinet meeting. The Chinese are “mixing up a few things,” he said.

Karremans recently invoked a rarely used law to prevent the technological knowledge and intellectual property of Nijmegen-based Nexperia from leaking to China. The Enterprise Chamber of the Amsterdam Court of Appeal independently temporarily sidelined Nexperia’s Chinese owner. China subsequently halted the export of products from the Chinese Nexperia factory until further notice.

According to Karremans, Beijing wrongly assumes that the Netherlands acted under American pressure. The United States has long had its sights set on Nexperia's Chinese parent company. American tech companies are no longer permitted to simply supply components or software to it.

"Well, I haven't spoken to a single American about it since I became Minister of Economic Affairs," said Karremans. "So none of that is true." He reiterated that the Cabinet decided to intervene in Nexperia "without any mandate or consultation" with other countries.

Karremans is in talks with the Chinese authorities to find a solution. He declined to comment on the content of those talks. He did say he was “optimistic about the outcome, given the significant global stakes.”

“This isn’t just important for the Netherlands or a company in Nijmegen. This is important for many players in the global economy,” Karremans said.

The European Automobile Manufacturers' Association (ACEA) previously warned that virtually all European car makers are affected by the Nexperia conflict. According to the organizations, current stocks of Nexperia chips will be exhausted in a few weeks. ACEA called the situation alarming and advocated for swift and pragmatic solutions from all countries involved.

Car production in the United States is also at risk of being affected by the conflict, the Alliance for Automotive Innovation (AAI) warned on Friday. The Washington-based industry association, which represents virtually all major global automakers such as General Motors, Ford, Volkswagen, and Toyota,

The Dutch expects China to backdown and surrender. The US Dutch territories are treating the theft as if it didn’t existed.

“We never discussed it with the US. Therefore the Chinese are in the Wrong.”

"Well, I haven't spoken to a single American about it since I became Minister of Economic Affairs," said Karremans. "So none of that is true."
He was “optimistic about the outcome, given the significant global stakes.”
 

jiajia99

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The Dutch expects China to backdown and surrender. The US Dutch territories are treating the theft as if it didn’t existed.

“We never discussed it with the US. Therefore the Chinese are in the Wrong.”
In all honesty, I hope China makes a real example to the world about what happens if they try this game on China. This isn’t the same with Germany and Gazprom, this time China should make them suffer and when they do eventually come to the table if ever, the Dutch will not only capitulate, but they will offer an entirely leg for being this stupid
 
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