In a speech at the Reagan National Defense Forum in Simi Valley, California, US Commerce Secretary Gina Raimondo emphasized the need for increased funding for the Commerce Department’s Bureau of Industry and Security to prevent China from advancing in cutting-edge semiconductor technology.
Raimondo stressed the importance of denying China access to the most advanced semiconductor chips, stating, “We cannot let China get these chips. Period. We’re going to deny them our most cutting-edge technology.”
Highlighting the urgency of the situation, Raimondo pointed out that her department’s $200 million budget is insufficient for the task at hand, stating, “If we’re serious, let’s go fund this operation like it needs to be funded.”
Addressing the impact on American companies, Raimondo emphasized the need for adaptation to US national security priorities, even if it means sacrificing short-term revenue. She specifically called out Nvidia Corp. for designing chips for the Chinese market after the US imposed initial export controls in October 2022.
Raimondo emphasized the need for vigilance on issues of national security, particularly in communication with China, stating, “On matters of national security, we’ve got to be eyes wide open about the threat. This is the biggest threat we’ve ever had and we need to meet the moment.”
The Commerce Department has updated semiconductor export controls to address Nvidia’s made-for-China chips, signaling a firm stance on preventing advanced technology from reaching China.
With assistance from Mackenzie Hawkins
