On Sunday, the Netherlands' Economy Minister, Vincent Karremans, stated that he expects to meet with a Chinese government official in the coming days to discuss how to resolve the standoff over Nexperia NV, a computer chip maker whose issues are threatening global automotive supply chains.
The Dutch government took control of Nexperia, a subsidiary of China’s Wingtechnand a key supplier of essential chips for cars, on September 30. In response, the Chinese government imposed a ban on exports of the company’s finished products.
In an interview on the Dutch television show Buitenhof, Karremans explained that while the Chinese believe the Dutch are aligning with the Americans on the Nexperia intervention, the action was actually intended to prevent the company’s former Chinese CEO from transferring operations and intellectual property out of Europe.
The standoff is causing concern within the automotive industry, as Nexperia's chips, while not the most advanced, are produced in large volumes, primarily in Hamburg, Germany, before being sent to China for packaging and distribution to the global car industry. Carmakers are worried about potential shortages in their supply chains if a resolution is not reached soon.
Karremans also highlighted the interdependent relationship between Chinese carmakers and Nexperia, noting, "We have a mutually dependent relationship. Everyone has an interest... to solve this together."
Nexperia reported a net profit of $331 million in 2024, making it a valuable asset for Wingtech. Karremans mentioned that Dutch diplomats have been working to resolve the dispute, and he is scheduled to meet with the Chinese minister responsible for the matter in the coming days. "This is being discussed at the highest level," he said.
U.S. President Donald Trump said on Monday that talks with Iran are ongoing, while also saying U.S. lawmakers are close to resolving a partial governm...
Ukraine’s negotiating team is heading to the United Arab Emirates for a second round of trilateral peace talks with Russia and the U.S., President V...
Nigeria has filed 57 terrorism-related charges against nine men accused of planning and executing a June 2025 attack in Benue state that killed about ...
France’s 2026 state budget has been adopted by parliament after Prime Minister Sebastien Lecornu survived two no-confidence motions, ending months o...
10 people were killed and 26 others injured when a passenger bus rolled off a road and plunged into a ravine in southern Türkiye’s Antalya province...
Elon Musk’s rocket company SpaceX has acquired his artificial intelligence firm xAI, as the billionaire moves to bring more of his technology businesses under one structure.
U.S. President Donald Trump said on Monday that talks with Iran are ongoing, while also saying U.S. lawmakers are close to resolving a partial government shutdown.
Ukraine’s negotiating team is heading to the United Arab Emirates for a second round of trilateral peace talks with Russia and the U.S., President Volodymyr Zelenskyy said late Monday.
France’s 2026 state budget has been adopted by parliament after Prime Minister Sebastien Lecornu survived two no-confidence motions, ending months of political stalemate that had paralysed fiscal decision-making.
U.S. President Donald Trump said on Saturday that the United States has begun negotiations with European leaders over Greenland and that an agreement is already taking shape.
The United States accused Cuba of interfering with the work of its top diplomat in Havana on Sunday (1 February) after small groups of Cubans jeered at him during meetings with residents and church representatives.
Dmitry Medvedev, said European countries have failed to defeat Russia in Ukraine and have instead inflicted serious economic damage on themselves, as he criticised EU policy, praised Donald Trump as a leader who seeks peace, and said Russia would “soon” achieve military victory in the war.
U.S. president Donald Trump said Iran is “seriously talking” with the United States and expressed hope that negotiations could lead to an outcome acceptable to Washington.
A daylight robbery at a jewellery shop in Richmond, one of London’s most affluent and traditionally quiet districts, has heightened security concerns among residents and local businesses.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment