Taiwan has officially placed two of China’s most prominent technology firms, Huawei and Semiconductor Manufacturing International Corporation (SMIC) on its strategic export control list.

Taiwan Semiconductor Manufacturing Co (TSMC) has further solidified its dominance in the global pure-play wafer foundry market, growing its market share to 67.6% in the first quarter of this year, according to a report by Taipei-based research firm TrendForce Corp,

Huawei, which is at the centre of China's AI ambitions, is on a U.S. Commerce Department trade list that essentially bars it from receiving U.S. goods and technology, as well as foreign-made goods such as chips from companies like TSMC made with U.S. technology.