Huawei Blames US for Global Chip Supply Crunch

Huawei has blamed the U.S. for the chip crunch rocking the global tech industry, saying Washington's sanctions against Chinese companies have spurred panic buying of semiconductors and other supplies. From a report: "Because of the U.S. sanctions against Huawei, we have seen panic stockpiling among global companies, especially the Chinese ones. In the past, companies were barely stockpiling, but now they are building up three or six months' worth of inventory ... and that has disrupted the whole system," Rotating Chairman Eric Xu said at the company's 18th Huawei Analyst Summit. The U.S. has placed Huawei and other Chinese tech companies on trade blacklists that restrict their access to American technology, citing national security risks. "Clearly the unwarranted U.S. sanctions against Huawei and other [Chinese] companies are creating an industry-wide supply shortage, and this could even trigger a new global economic crisis," Xu added. Xu's remarks come hours before the White House plans to host a summit aimed at addressing the chip shortage, with an emphasis on its impact on the automotive industry. Dozens of executives from U.S., Asian and European tech companies and automakers -- including General Motors, Ford, Google, Intel, Taiwan Semiconductor Manufacturing Co., Samsung Electronics, and NXP -- are slated to attend the event. White House officials have already acknowledged that the chip shortage may be difficult to solve in the short term.

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