US Commerce Secretary warns against over-reliance on bans and sanctions

In an interview with the media, U.S. Commerce Secretary Gina Raimondo stressed that the United States should focus more on investing in domestic innovation rather than imposing bans and sanctions. She mentioned that although the Chips and Science Act implemented by the Biden administration has enabled the United States to invest more in building chip infrastructure than in the past 28 years combined, this is not more important than export controls. At the same time, she also pointed out that although the U.S. government has imposed export controls on a number of Chinese companies, these companies can still obtain chips through unofficial channels.