Taiwan's UMC halts R&D with Chinese semiconductor firm after US ban

Taiwan chipmaker United Microelectronics Corp said it will temporarily halt research and development activities with its Chinese partner Fujian Jinhua, days after the United States cut off the state-backed Chinese firm from U.S. suppliers.

"UMC will follow all government regulations and temporarily hold the R&D activities we are performing for Fujian Jinhua until we are cleared to resume by the appropriate authorities," the Taiwan company said in a statement late on Wednesday.

U.S. President Donald Trump's administration took action on Monday to cut off Fujian Jinhua from U.S. suppliers amid allegations the firm stole intellectual property from U.S. semiconductor company Micron Technology Inc.