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Raimondo Says Commerce Needs More Money to Halt China Chip Drive
US Commerce Secretary Gina Raimondo said her department needs more money to stop China from catching up on cutting-edge semiconductors. “We cannot let China get these chips. Period,” she said at the Reagan National Defense Forum in Simi Valley, California, on Saturday. “We’re going to deny them our most cutting-edge technology.” To do that, Raimondo said the Commerce Department’s Bureau of Industry and Security, which manages export controls for the US, needs more funding from Congress. “I have a $200 million budget. That’s like the cost of a few fighter jets. Come on,” she said. “If we’re ... (full story)