The Dutch government has suspended its powers over chipmaker Nexperia, handing back control to its Chinese owner and defusing a standoff with Beijing that had begun to hamper automotive production around the world.
The order that gave the Netherlands powers to block or revise decisions at Nijmegen-based Nexperia was dropped as ¡°a show of goodwill,¡± Economic Affairs Minister Vincent Karremans said Wednesday, adding that discussions with Chinese authorities are continuing.
¡°The Nexperia group currently shows no signs of continuing the behavior that prompted my order, nor any intention to do so,¡± the minister said in a letter to parliament on Wednesday.
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