China, EU urge Nexperia to resolve dispute without Dutch intervention
China and the European Union want Nexperia's Dutch and Chinese divisions to work out their differences themselves, without the Dutch government stepping in.
The conflict began with the Dutch government's seizure of Nexperia, after which the Chinese unit declared independence from the European headquarters, prompting the European HQ to halt wafer shipments to China.
Why does it matter?
Nexperia makes chips that are crucial for Europe's car industry, so this dispute could mess with already fragile tech supply chains.
Both China and the EU agree companies should take charge of fixing things—China's Commerce Minister even called recent progress just "a small step."
With ongoing chip shortages worldwide, a quick, company-led fix is key to keeping industries running smoothly and easing global tensions.