China opposes semiconductor bill because it will give U.S. advantage -U.S. commerce chief

[Yo_Mama_Been_Loggin]

WASHINGTON (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.”

https://www.msn.com/en-us/news/world/china-opposes-semiconductor-bill-because-it-will-give-us-advantage-us-commerce-chief/ar-AAXalmB

[dalton99a]

1. Can the U.S. oppose any Chinese legislation?

Fuck China

[Caliman73]

3. I am sure that the US often voices disapproval of Chinese policy.

I know that we have taken China to court for violations of trade policies, but similar to your response, who cares what China supports or opposes for our domestic production policies. I know China invests in the US and likely gives money to many politicians, but semiconductors are the lifeblood of our modern technology and infrastructure. For us to be dependent on foreign powers, especially geopolitical rivals, for such important products is not only idiotic, it is suicidal.

[Irish_Dem]

2. China wants the upper hand economically.

So when it invades Taiwan, the US will have a hard time sanctioning them.

[Auggie]

4. Verbally oppose is one thing. They're going to lobby like hell.

Expect money to illegally change hands too.

[relayerbob]

5. Wah.

TFB, that's all I have to say. As a long time (since the 1980s) semiconductor engineer and Sr. exec, I was then and am still amazed that we gave away our tech advantages in the first place. Idiotic money grubbers. I simply never imagined we would have done that.