US House Speaker Signals Growing Consensus on Tightening Chip Exports to China

US House of Representatives Speaker Mike Johnson confirmed an increasing consensus across Congress to impose stricter export controls on advanced semiconductor chips destined for China, according to a report by Voice of Emirates. Johnson told journalists that export controls have become an urgent priority that could prompt lawmakers to adopt harder stances toward Beijing.

The development follows the announced resignation of Nvidia Chief Executive Officer Jensen Huang, following reports concerning his ties to a Chinese executive at MegaSpeed, a partner company of Nvidia. American authorities suspect the executive of conducting espionage for Beijing and facilitating the unauthorized transfer of restricted artificial intelligence chips.

Johnson indicated that the US Department of Justice is carrying out extensive investigations into the case, adding that members of Congress will have the opportunity to question Huang. Additionally, three Republican lawmakers have called for an urgent closed-door briefing to address the circumstances surrounding the matter.

The legislative push coincides with significant market volatility affecting technology and artificial intelligence shares on Wall Street. The report also noted that Donald Trump called for Tim Cook to assume leadership of Nvidia in an effort to contain the fallout from the executive departure.