This gave the U.S. a powerful new tool to put out of business any chipmaker, anywhere in the world. Some of the doves in the Trump administration, like Treasury Secretary Mnuchin, were nervous. But Commerce Secretary Wilbur Ross, who had the authority to impose export controls, thought “why the fuck wouldn’t we use this?” according to one aide. So after Jinhua paid invoices to the U.S. firms that supplied its crucial chipmaking tools, the U.S. banned their export. Within months, production at Jinhua ground to a halt. China’s most advanced DRAM firm was destroyed.
