US considering tougher trade rules in chip crackdown on China, Bloomberg News reports

(Reuters) - The Biden administration has informed allies that it is considering using the most severe trade restrictions available for China if companies including Tokyo Electron and ASML Holding NV continue giving the country access to advanced semiconductor technology, Bloomberg News reported on Tuesday.

The US is weighing whether to impose a measure called the foreign direct product rule, or FDPR, the report added, citing people familiar with the discussions.

(Reporting by Surbhi Misra in Bengaluru; Editing by Janane Venkatraman)