China has accused Nvidia of violating the country’s anti-monopoly law, the latest escalation in its trade war with the United States that has claimed the US-based chipmaker as collateral damage.The allegation by China’s market regulator on Monday was made after what it said was a preliminary probe into Nvidia’s business practices, and comes as the two countries held trade talks in Madrid, Spain, where chips were expected to be on the agenda.Recommended Stories list of 4 itemsend of listUS Treasury Secretary Scott Bessent called the announcement from China’s State Administration for Market Regulation (SAMR) “poor timing”, a move analysts said gave China leverage in the trade talks.The two countries have traded barbs over the past six months since US President Donald Trump hit China with massive tariffs, before lowering them to 30 percent, and threatened to shut down popular social media app TikTok. China has responded with 10 percent tariffs and antitrust probes against the likes of Alphabet’s Google, signalling more regulatory scrutiny on US firms.“It’s a warning that if the US export control paradigm operates in the same way as in the past several years, there will be consequences, and China is willing to inflict damage on US companies,” said Zhengyuan Bo, partner at research company Plenum.He added that SAMR’s preliminary ruling was likely a counter to the Trump administration’s decision on Friday to place 23 Chinese companies on a US trade blacklist.China’s announcement piles on more uncertainty for Nvidia’s business in China, which last year accounted for 13 percent of its total sales. Advertisement It shows that CEO Jensen …
