Candid remarks from the U.S. Secretary of Commerce

Although the U.S. government is conducting a wide-ranging investigation into China's semiconductor industry, U.S. Commerce Secretary Gina Raimondo said on December 22 that efforts to restrict China's access to technology have not stopped its progress. She stressed that the $52.7 billion Chips and Science Act is more important to innovation in the U.S. semiconductor sector than export controls.