US chipmakers are making a last-ditch effort to ease trade restrictions

The biggest chip companies in the US will make a final push this week to ease trade restrictions against China. Bloomberg writes. The delegation will travel to Washington next week to speak with politicians and policy makers.

The CEOs of Intel, Qualcomm and Nvidia want to lobby in Washington against extending trade restrictions with China that affect equipment needed to make some chips and semiconductors. US President Joe Biden’s administration intends to take action in the coming weeks.

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While the companies do not expect to be able to halt all operations, they see an opportunity to convince Biden that an escalation would damage existing diplomatic ties between the United States and China. So companies want Biden to focus on more productive relationships.

A growing storm

Chip companies are at the center of an escalating storm between Beijing and Washington. The United States, where most of its technology comes from, believes that denying technology access to China would benefit national security. Additionally, it crushes China’s military ambitions.

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However, companies see this as a further limitation of their huge market, leaving them with less money to invest in their technology. It is expected to endanger US leadership. Representatives of the companies declined to comment.