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Export Controls By Suspending Future Orders From Huawei Technologies Given the ramifications of the decision, we decided to take a closer look at the current state of affairs surrounding these latest developments. TSMC ( NYSE:TSM), who officially announced its intention to build a new $12 billion fabrication facility in Arizona on the same day reports of the new Commerce department broke news, is now reportedly suspending future orders from Huawei. Naturally, the move put one of the world's largest semiconductor manufacturers – Taiwan's TSMC – right in the crosshairs of both China and the U.S. This provided the United States government a new tool in its battle against Chinese telecommunications equipment giant Huawei Technologies as the American administration now has the authority to regulate sales of semiconductors fabricated through products manufactured by companies inside the U.S. Matters took a drastic turn late last week when the United States Department of Commerce issued a new rule that came into effect on Friday with a 120-day grace period. However, following the havoc ushered in by the coronavirus, things took a backburner as both countries turned their attention inwards to stem the flow of the deadly respiratory disease. The trade war between the United States and China showed signs of thawing earlier this year when the Trump administration announced in January that it had signed Phase One of the highly anticipated trade deal between the two countries.
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The author has no position in any of the stocks mentioned.