Reported 25 days ago
The U.S. imposed a $500,000 penalty on GlobalFoundries for shipping $17.1 million worth of chips to SJ Semiconductor, an affiliate of the sanctioned Chinese company SMIC, without proper authorization. The shipments occurred despite SMIC's inclusion on a trade restriction list due to alleged military ties. GlobalFoundries attributed the violation to an inadvertent data-entry mistake and emphasized their commitment to trade compliance. This incident has raised concerns among U.S. lawmakers regarding the enforcement of export regulations amid ongoing efforts to restrict sensitive technology from reaching China.
Source: YAHOO