The reported move comes after US President Joe Biden announced sweeping tariff increases on Chinese chip, EV, battery and solar cell imports

A joint statement issued by the two leaders said a political settlement to the Ukraine crisis was the "right direction" and that both countries were opposed to a drawn-out conflict

Analysts say tariffs target sectors where the economic impact will be limited and where Chinese companies' dominance appears unassailable

The two companies – CXMT and Tongfu Microelectronics – have benefited from local government funding as China pours cash into its chip sector

Analysts say they foresee a shift to factories in Mexico, Vietnam or other parts of Southeast Asia, by Chinese carmakers and other firms in a bid to avoid US tariffs; Beijing accuses US of 'bullying'

New measures will affect $18 billion in Chinese imports such as steel and aluminium, 'legacy' chips, batteries, critical minerals, solar cells, cranes and syringes

The big tech investor booked a profit of $2.11 billion in January-March, compared to a loss of $200 million a year earlier

The planned tariffs might be a good pre-election move for Biden, but their impact on Chinese industries is likely to be limited

The package is part of President Yoon Suk Yeol’s pledge to pour all possible resources into winning the "war" in chips

China’s largest contract chipmaker said revenue jumped as both domestic and global customers rebuilt inventories

The US is likely to maintain tariffs on Chinese products and will reveal news next week on areas of strategic competition such as EVs and solar panels, sources say

The United States buys 92% of its high-end edge chips from TSMC, which is a major supplier to Apple and Nvidia