China’s market regulator has stated that U.S. computer chip manufacturer Nvidia has violated the nation’s anti-monopoly laws.
The market watchdog did not disclose specific details regarding Nvidia’s alleged breaches but affirmed its commitment to continuing the investigation.
Nvidia has responded by asserting its adherence to all applicable laws and expressing its willingness to cooperate with relevant government agencies.
This development coincides with the second day of trade discussions between U.S. and Chinese officials in Spain, aimed at de-escalating the ongoing trade dispute between the world’s two largest economies.
Following these discussions, U.S. President Donald Trump suggested that an agreement had been reached with China, potentially averting a U.S. ban on TikTok.
The social media application had been facing a potential ban in the United States unless a U.S. buyer was found.
The U.S.-China trade talks in Spain were spearheaded by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.
Mr. Bessent commented after the talks, “We had very good discussions. We preferred to keep the discussions on TikTok, we will be holding trade negotiations in about a month again at a different location.”
High-level trade delegations from Beijing and Washington last convened in July, reaching an agreement to extend their tariffs truce for an additional 90 days until November 10.
The tariffs truce between China and the U.S. resulted in a reduction of import taxes, which had previously exceeded 100% on certain goods exchanged between the two nations.
China initiated an investigation into Nvidia in December of the previous year, a move widely regarded as a retaliatory measure in the ongoing conflict between the U.S. and China over the semiconductor chip market.
The United States has been progressively tightening restrictions on the export of specific items to Chinese companies, notably including high-end semiconductors.
The discussions in Madrid were anticipated to address the complexities surrounding which chips, including those produced by Nvidia, would be permitted entry into China.
Nvidia stated, “We will continue to cooperate with all relevant government agencies as they evaluate the impact of export controls on competition in the commercial markets.”
President Trump, who initially advocated for a TikTok ban during his first term, has since altered his stance on the popular video-sharing platform, delaying the ban three times.
President Trump announced on his social media platform, Truth Social, that a deal was “reached on a ‘certain’ company that young people in our country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!”
Prior to this announcement, it was expected that the deadline, which was set to expire on Wednesday, might be extended for a fourth time.
Although Mr. Trump was initially critical of TikTok during his first term, he softened his position after he gained popularity on the app during the 2024 presidential election.
In August, The White House launched its official TikTok account.
The app is one of the world’s most widely-used social media platforms, with around 170 million users in the US.
Specialist marine officers increase patrols ahead of the US president’s visit to Windsor.
The US president urges regulators to adopt a semi-annual schedule for financial reports.
Some establishment Democrats have been uneasy about the 33-year-old’s left-wing platform.
Tension has been running high between the two countries since the US deployed war ships to the South Caribbean.
Chandra Mouli Nagamallaiah was attacked with a machete by his co-worker, who is an illegal Cuban immigrant.