U.S. Chip Funding Needs Rules to Bar Use in China, Commerce Secretary

U.S. Commerce Secretary Gina Raimondo says the consequences for the U.S. economy and national security would be “devastating” if there’s a significant delay in passing the chips legislation. Photo: Bloomberg

(Bloomberg) — U.S. Commerce Secretary Gina Raimondo said legislation to spur domestic semiconductor manufacturing needs rules to prevent funds from going toward production in China but deferred to Congress on the details of such provisions.

“Congress will decide what, if any, legislative guardrails they want to put on this, versus if they want to defer on that and let Commerce handle it in the regulations,” Raimondo said Thursday during an interview with Bloomberg reporters and editors in New York. “But it’s something we have to grapple with. The intention is to protect ourselves from China.”