The U.S. Secretary of Commerce's View

Despite the U.S. government's extensive investigation into China's semiconductor industry, U.S. Commerce Secretary Raimondo said on December 22 that efforts to restrict China's access to technology have not hindered its progress. He believes that the $52.7 billion Chips and Science Act is more important to innovation in the U.S. semiconductor sector than export controls, and that trying to contain China is a stupid mistake.