360 U.S. Commerce Secretary Gina Raimondo, in an exclusive interview, emphasized that additional controls on technology exports to China will be implemented as necessary, despite concerns from businesses. Raimondo acknowledged the challenges faced by the industry, which seeks clear guidelines, but emphasized the need for constant adaptation as technology evolves and China’s capabilities change. In October 2022, the U.S. Department of Commerce announced comprehensive export controls restricting the sale of advanced computing semiconductors and related manufacturing equipment to China. Raimondo highlighted the necessity of these measures, considering the significant power of semiconductors and the evolving threat posed by China. While the focus has been on limiting China’s military capabilities, both countries are also working on advancing their artificial intelligence capabilities. During a defense forum panel, Raimondo discussed plans to establish a continuous dialogue between business and government engineers to restrict China’s access to specific technologies effectively. She emphasized the importance of controlling the most sophisticated AI chips and mentioned ongoing discussions with Nvidia, a prominent chipmaker, which recently delayed the launch of an AI chip designed for China to comply with U.S. export controls. Raimondo expressed a commitment to preventing any violation of export controls’ intention and mentioned the possibility of similar controls on advanced AI, biotechnology, and quantum computing. Despite acknowledging the challenge of stopping China’s technological development entirely, Raimondo emphasized the goal of slowing down their progress while maintaining the U.S.’s technological edge. She underlined the importance of continuous efforts to stay ahead, aligning with President Joe Biden’s push to support U.S. semiconductor development through substantial funding. While China intensifies its efforts to enhance its semiconductor and tech industry, the U.S. aims to navigate the delicate balance between technological competition and safeguarding sensitive capabilities. You Might Be Interested In Emerging Markets Grapple with Central Bank Challenges, Sparking Currency and Bond Concerns Amazon plans to trim employee stock awards amid tough economy Marsh McLennan Appoints David Liston as US and Canada Chief Commercial Officer Central African Republic Requires $367.7 Million to Strengthen Humanitarian Response in 2024 Markaz Garners Dual Accolades at EMEA Finance Middle East Banking Awards 2023 Saudi Arabia Makes History with the World’s Largest Sustainable Farm, Confirmed by Guinness World Records