AMSTERDAM (Reuters) -The Netherlands' economy minister, Vincent Karremans, said on Thursday he trusts computer chips made by Dutch chipmaker Nexperia will reach customers in Europe and the rest of the
Dutch Economy Minister Optimistic About Nexperia Chip Supply Resumption
Nexperia Chip Supply and Economic Impact
AMSTERDAM (Reuters) -The Netherlands' economy minister, Vincent Karremans, said on Thursday he trusts computer chips made by Dutch chipmaker Nexperia will reach customers in Europe and the rest of the world in the coming days.
Impact on Auto Industry
A shortage of Nexperia chips following a dispute with China over ownership and control of the company has disrupted auto supply chains, hit production and caused some buyers to furlough staff. The chips are also widely used in industrial, computing, mobile and consumer products.
Trade Deal Developments
In a statement, Karremans said the Netherlands had been informed by China and the U.S. that the trade deal they struck last week would enable the resumption of supplies from Nexperia's facilities in China.
Government Actions and Responses
"This is also consistent with information provided to the European Commission by the Chinese Ministry of Commerce," he said.
Karremans seized control of Nexperia on September 30, citing fears its operations would be moved to China where its parent, Wingtech, is based. The Chinese government responded by blocking exports on October 4.
This week carmakers and auto parts distributors began to apply to the Chinese Ministry of Commerce for exemptions but it is unclear whether any have received the chips.
(Reporting by Toby Sterling; Editing by Leslie Adler and Richard Chang)
