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Holding back China's chipmaking progress is a fool’s errand, says U.S. Commerce Secretary
Investments in semiconductor manufacturing and innovation matter more than bans and sanctions.
She also added that the Biden administration’s CHIPS and Science Act, which led the country to spend more money on building out its chip infrastructure than the past 28 years combined, “matters more than export controls.” Nevertheless, the Wall Street Journal says President Biden still pushed for bans and sanctions against Chinese firms and even urged its allies, including the Netherlands and Japan, to stop China from acquiring advanced tech, especially those containing American tech. However, the incoming President was quoted saying in October, “That chip deal is so bad.” Instead of direct government funding, Trump spokesman Kush Desai said that he prefers “enacting tariffs, cutting taxes, slashing regulations, and unleashing American energy.” Raimondo agrees that some regulations hold back the competitiveness of American industry, she still believes that Washington shouldn’t let companies act with impunity, even if they have a huge war chest.
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