China Blocks Qualcomm’s Attempt to Buy a Dutch Chipmaker

Qualcomm said it will abandon its $38 billion bid for Dutch chipmaker NXP and pay NXP a $2 billion termination fee after failing to secure approval for the deal from the Chinese government.

While tariffs get most of the attention, the scuttled Qualcomm deal highlights an underappreciated aspect of global trade tension. The Trump administration has blocked attempts by Chinese companies to acquire US companies, and has taken steps to hinder Chinese telecommunications firms like Huawei and ZTE. China, meanwhile, is increasingly cracking down on US companies.

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