By Kelly Cloonan
Texas Instruments' stock fell sharply Friday after China's main semiconductor association clarified methods to determine the origin of chip imports.
The company's stock fell 9% to $142.66, on track for its largest daily percent decrease since March 2020.
The stock's decline comes after the China Semiconductor Industry Association said China determines the origin of imports based on where chips are manufactured. Texas Instruments produces its chips at plants in the US.
Earlier Friday, China announced it was raising tariffs on all US goods to 125%, the latest move in an escalating trade war between the two countries.
Shares of Intel, which also manufactures its chips domestically, fell 4% to $19.17.
Chipmakers that source manufacturing outside the US, like Nvidia and Qualcomm, saw their stocks rise slightly.
Taiwan Semiconductor Manufacturing's US-listed shares climbed 3%.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 11, 2025 12:56 ET (16:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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