The US imposed a fine of $500,000 on the New York-based GlobalFoundries. The company was shipping microchips to an affiliate of the Chinese manufacturer SMIC, reports Reuters. In its statement, the US Department of Commerce said that GlobalFoundries had shipped 74 shipments worth $17.1 million to SJ Semiconductor, a subsidiary of SMIC, without requesting a license. SMIC and SJ Semiconductor were placed on a list of trade restrictions, known as the “Entity List,” in 2020 due to SMIC’s alleged ties to the Chinese military-industrial complex. SMIC denies any wrongdoing. Exporting to firms on the …