Micron Technology (NASDAQ:MU) is leading the charge to convince the US Congress to enact legislation that introduces new export restrictions on equipment used by Chinese chip manufacturers, Reuters reported on Wednesday.
The US House Committee kicked off a session on Wednesday to vote on the 'MATCH Act', aimed at sealing the gaps in restrictions on chip manufacturing equipment. This bill will also put pressure on foreign firms selling gear to Chinese chip makers to align their actions with the export limits placed on American companies like Lam Research (NASDAQ:LRCX) and Applied Materials (NASDAQ:AMAT).
The bill targets enterprises managed by Chinese companies ChangXin Memory Technologies, Yangtze Memory Technologies, and Semiconductor Manufacturing International Corp (SEHK:0981). The legislation also covers critically important technologies across the country.
Micron informed lawmakers that Washington needs to step up efforts to curb Chinese advancements in the memory market, according to a report citing informed sources. The report highlights that increased U.S. actions are necessary to prevent China from dominating memory chip production, similar to what happened in solar energy and other sectors.
Micron described this issue as a national security concern, the report states.