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.
NATO Secretary General Mark Rutte has said allied nations are discussing “next steps” to ensure the security of the Arctic, citing concerns that R...
The U.S. has issued an urgent security notice calling all American citizens to leave Iran immediately, citing escalating protests, growing violence an...
Donald Trump said Monday that any country doing business with Iran will face a 25% U.S. tariff on all trade with the United States, with the measure t...
Real Madrid have parted ways with coach Xabi Alonso, appointing former defender Álvaro Arbeloa as his replacement....
The UK government will introduce a new criminal offence this week targeting the creation of non-consensual intimate images, Technology Secretary Liz K...
NATO Secretary General Mark Rutte has said allied nations are discussing “next steps” to ensure the security of the Arctic, citing concerns that Russia and China could become more active in the strategically important region.
The U.S. has issued an urgent security notice calling all American citizens to leave Iran immediately, citing escalating protests, growing violence and widespread communication shutdowns across the country.
Donald Trump said Monday that any country doing business with Iran will face a 25% U.S. tariff on all trade with the United States, with the measure taking effect immediately.
Real Madrid have parted ways with coach Xabi Alonso, appointing former defender Álvaro Arbeloa as his replacement.
Real Madrid have parted ways with coach Xabi Alonso, appointing former defender Álvaro Arbeloa as his replacement.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
Bob Weir, the rhythm guitarist, songwriter and co-founder of the Grateful Dead, has died at the age of 78, his family has said.
Israel has sharply escalated its warnings to Lebanon amid rising regional tensions linked to Iran, according to a report by the Lebanese newspaper Nida Al Watan.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment