Kioxia, the Japanese computer memory manufacturer spun off from Toshiba, postpones its initial public offering on the Tokyo Stock Exchange, citing the volatility of the semiconductor industry caused by both the COVID-19 pandemic and the ongoing trade war between China and the United States. Its initial public offering, which would have launched on October 6, was projected to be Japan's largest for this year.
The United States Department of Commerce expands its sanctions on Chinese technological vendor Huawei by adding 38 of the company's affiliates to its "entity list", limiting Huawei's access into U.S. integrated circuits and other technology. The Trump administration has viewed Huawei as "an arm of the Chinese Communist Party's surveillance state."
Citing human rights issues, the United States Department of Commerce puts 20 Chinese public security bureaus and eight high tech companies, such as HikVision, SenseTime and Megvii, on the Export Administration Regulations entities blacklist. Like Huawei, which was sanctioned on an identical blueprint for national security reasons, the entities will need U.S. government approval before they can purchase components from U.S. companies.
China announces that it will allow the import of soybean meal from Argentina, to ensure livestock feed under the impact of the trade war with the U.S. Apart from Argentina, China has been increasing imports of soybeans and soymeal from other channels, such as allowing soybean meal, rapeseed meal and sunflower meal from Russia since September 6.
President Trump announces an increase in the tariffs set to take effect on September 1, October 1 and December 15, from 10% and 25% to 15% and 30%, respectively. The Office of the United States Trade Representative says it will "begin the process of increasing the tariff rate to 30% effective October 1 following a notice and comment period".
Huawei files for a summary judgment, seeking to expedite its March lawsuit against the U.S. Government, challenging the constitutionality of "Section 889" of the National Defense Authorization Act that bans U.S. executive government agencies from procuring Huawei and ZTE telecommunications equipment based on national security.