Chicoms oppose US semiconductor production

 Reuters:

U.S. Commerce Secretary Gina Raimondo said Wednesday the Chinese government opposes an effort in Congress to ramp up U.S. semiconductor manufacturing because it will give the United States more of a competitive punch.

On Thursday, U.S. lawmakers will open formal negotiations on a compromise measure that would fund $52 billion in semiconductor manufacturing subsidies and boost U.S. competitiveness with Chinese technology. It could still take months to reach a final deal.

Republican Senator Shelley Moore Capito asked Raimondo at a Senate Appropriations subcommittee hearing about a Reuters story and other reports that China had been pushing U.S. executives, companies and business groups to fight against China-related bills in Congress.

"It doesn't surprise me at all. China doesn't want us to pass this bill. They know that this bill will enable us to outcompete them," Raimondo said, saying China had invested $160 billion in domestic semiconductor production. "The last thing they want is for us to invest $52 billion."

Raimondo said she had heard the reports China was lobbying U.S. businesses, saying they were "deeply concerning ... The reason China is so against it is because they know how important it is for us."
...

Relying on China for semiconductors needed in the US defense industry would be a strategic error.  It is an error that Congress is seeking to correct with this appropriation.

See, also:

Russia is resorting to putting computer chips from dishwashers and refrigerators in tanks due to US sanctions, official says

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more