The Dutch government suspended its powers over chipmaker Nexperia, handing back control to its Chinese owner and defusing a standoff with Beijing that had begun to hamper automotive production around the world.

 

The order that gave the Netherlands powers to block or revise decisions at Nijmegen-based Nexperia was dropped as “a show of goodwill,” Economic Affairs Minister Vincent Karremans said Wednesday, adding that discussions with Chinese authorities are continuing.