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☆ Commerce Secretary Raimondo on CHIPS Act: criteria for funding will be clear early next year
▼ + stars: | 2022-12-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommerce Secretary Raimondo on CHIPS Act: criteria for funding will be clear early next yearGina Raimondo, U.S. Commerce Secretary, joins 'Closing Bell' to discuss how the administration is deciding which companies get money from the CHIPS Act and more.

They issued a joint statement after the third ministerial-level of the U.S.-EU Trade and Technology Council (TTC) vowed to work constructively to resolve it. EU Trade Commissioner Valdis Dombrovskis on Monday called the $430 billion U.S. Inflation Reduction Act discriminatory and urged steps be taken before year's end to modify the law. It offers consumers tax credits of $7,500 for new purchases of Tesla (TSLA.O), Ford (F.N) and other North American-made EVs that the EU fears will significantly hurt European. Other participants included U.S. Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai and European Commission Vice President Margrethe Vestager. During a state visit to Washington last week, French President Emmanuel Macron told broadcaster CBS it was a "job killer" for Europe.

☆ The U.S. wants the EU to be strict with China. But Europe can't afford it
▼ + stars: | 2022-12-02 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The United States has stepped up its heavy rhetoric against China, and wants Europe to follow suit. Reports suggested that American officials had told European counterparts to consider using export control restrictions on China. "While the U.S. is trying to pull the EU into its direction to distance itself from China, the EU is keen to maintain economic ties to China. This comes at a time when the relationship between the EU and U.S. is turning a little sour. The EU said this challenges international trade rules and is a threat to European companies.

☆ U.S. Not Seeking Decoupling From China, Commerce Chief Says
▼ + stars: | 2022-11-30 | by ( Yuka Hayashi | ) www.wsj.com time to read: 1 min

Under Gina Raimondo, the Commerce Department has played a key role in the Biden administration’s economic strategy against China. WASHINGTON—The U.S. isn’t seeking to decouple from China, U.S. Commerce Secretary Gina Raimondo will assert Wednesday, even as she emphasizes steps the U.S. is taking to safeguard its technology to ensure its economic competitiveness. Ms. Raimondo is scheduled to speak Wednesday on U.S. competition with China at the Massachusetts Institute of Technology. At a briefing with reporters in advance, Ms. Raimondo highlighted the importance of promoting trade and investment in areas outside of core economic and national security interests.

☆ China is a growing threat to national security, U.S. companies and American workers, U.S. Commerce Secretary Raimondo says
▼ + stars: | 2022-11-30 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

It's now clear to U.S. officials that China, once considered a possible economic and political ally, has become an emerging threat to national security, U.S. companies and American workers, Commerce Secretary Gina Raimondo said Wednesday. "China's reprioritization away from economic growth toward national security and its assertive military behavior means that we have to rethink how we protect our national security interests while also promoting our interests in trade and investment." "Probably most disturbingly is they're accelerating their efforts to fuse economic and technology policies with their military ambitions," Raimondo said. "China today poses a set of growing challenges to our national security," she said. But in areas that have no potential to undermine our interests, our values, our national security, our economic security, and at the same time using every tool in our toolbox to protect our companies and counter unfair economic practices," Raimondo said.

☆ Netherlands in talks with U.S. on China chip policy - Dutch trade minister
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Nov 25 (Reuters) - Dutch trade minister Liesje Schreinemacher said on Friday the Netherlands is in talks with the U.S. government about new export restrictions for semiconductor equipment to China. New U.S. export restrictions on chip equipment announced in October reach beyond currently agreed international definitions of what constitutes dual-use equipment. "Well we are having talks with the U.S., obviously they have announced their unilateral measures," Schreinemacher told reporters in Brussels. "We do share the concerns that they (the U.S. government) have when it comes to China, when it comes to security," Schreinemacher said. At the G20 conference in Bali, Chinese President Xi Jinping called on Dutch Prime Minister Mark Rutte to resist "the politicisation of economic and trade issues."

☆ TSMC planning advanced chip production in Arizona, says company's founder
▼ + stars: | 2022-11-21 | by ( Sarah Wu | ) www.reuters.com time to read: +3 min

TAIPEI, Nov 21 (Reuters) - Taiwanese chipmaker TSMC is planning to produce chips with advanced 3-nanometre technology at its new factory in the U.S. state of Arizona but the plans are not completely finalised yet, the company's founder Morris Chang said on Monday. Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW), , a major Apple Inc (AAPL.O) supplier and the world's largest contract chipmaker, is constructing a $12 billion plant in Arizona. Chang, speaking to reporters in Taipei after returning from the APEC summit in Thailand, said the 3-nanometre plant would be located at the same Arizona site as the 5-nanometre plant. "It has almost been finalised - in the same Arizona site, phase two. [1/3] Taiwan's APEC representative and TSMC founder Morris Chang speaks at a news conference after his return to Taipei, Taiwan November 21, 2022.

☆ U.S. Commerce's Raimondo vows continued support in talks with Ukraine economy minister
▼ + stars: | 2022-11-09 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 8 (Reuters) - U.S. Commerce Secretary Gina Raimondo pledged continued strong support for Ukraine during a meeting with the country's economy minister, including efforts by the U.S. government and private sector to help rebuild Ukraine's civilian infrastructure, the Commerce Department said on Tuesday. Ukrainian Economy Minister Yulia Svyrydenko briefed Raimondo at their meeting in Washington on Russia’s recent attacks on Ukraine’s energy infrastructure and Ukraine’s efforts to promote economic recovery, Commerce said in a statement. The two also discussed a U.S.-Ukraine infrastructure task forcebeing formed by the Department of Commerce, Department of Transportation and Ukrainian Ministry of Infrastructure, the department said. Her visit to Washington comes during congressional elections that could see President Joe Biden's Democrats lose control of Congress, with some Republicans already speaking out against continued U.S. support for Ukraine. "At that point, if public opinion on Ukraine starts to shift materially, I think the prospects for U.S. support for Ukraine follow and deteriorate," he said.

☆ Ukraine minister: GDP contraction of 39% expected in 2022 vs earlier forecast of 35%
▼ + stars: | 2022-11-09 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 9 (Reuters) - Ukrainian economy minister Yulia Svyrydenko said Russia’s destruction of civilian infrastructure in recent weeks was expected to result in a 39% contraction of gross domestic product in 2022, down from an earlier forecast of a 35% drop. Asked about recent comments from Republican leaders in Congress suggesting they would curtail U.S. aid to Ukraine, Svyrydenko said Ukraine's fight against Russia was an existential one, and that the entire world order would change if it lost. She said Ukraine is also seeking a yearlong extension of the suspension of U.S. steel tariffs to help Ukrainian steelmakers, which have been hit hard by Russian missile attacks. Svyrydenko said she discussed the issue with U.S. Trade Representative Katherine Tai during a meeting in Washington earlier on Wednesday. She also met on Tuesday with U.S. Commerce Secretary Gina Raimondo, who pledged continued strong support for Ukraine, including efforts by the U.S. government and private sector to help rebuild Ukraine's civilian infrastructure.

☆ U.S., Mexico discuss regional markets, business relocation, Mexico says
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 7 (Reuters) - U.S. Commerce Secretary Gina Raimondo and her Mexican counterpart spoke by phone about strengthening regional markets and promoting relocalization of U.S. companies to Mexico, Mexico's economy ministry said in a tweet on Monday. The phone call comes days after Mexican Economy Minister Raquel Buenrostro, who took her post in October, spoke with U.S. Trade Representative Katherine Tai over the Mexican energy sector and U.S. corn exports. Reporting by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

☆ Japan to seek U.S. flexibility on EV purchase incentives, Kyodo reports
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew KellyTOKYO, Nov 4 (Reuters) - Japan will ask the United States to be more flexible on electric vehicle (EV) purchase incentives for non-American carmakers, Kyodo news agency reported on Friday, citing unidentified government sources. The move follows a statement from South Korea's foreign ministry saying Seoul is seeking a three-year grace period on the U.S. Inflation Act to enable its automakers to continue receiving EV incentives in the United States. The law restricts tax credits for EVs to those assembled in North America. The Biden administration said in mid-August that about 20 models still qualify for tax credits of up to $7,500. The government will seek to make nearly completed cars exported from Japan eligible for the tax credits as long as the final process takes place in the United States, Canada, or Mexico, Kyodo said.

☆ U.S. Commerce Secretary Raimondo doubles down on Biden plan to restrict American companies, and citizens, from helping China make semiconductor chips
▼ + stars: | 2022-11-03 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

U.S. Commerce Secretary Gina Raimondo doubled down on the Biden administration's controversial plan to ban U.S. companies, and citizens, from helping China manufacture advanced semiconductor chips, saying: "We have to protect the American people against China. China, however, is using those chips in military equipment that U.S. officials worry could be used against America, she said. In October, the Biden administration imposed export restrictions on semiconductors manufactured in China by U.S. companies. Commerce also issued license restrictions barring U.S. citizens from working for China's chip manufacturing industry, putting their U.S. citizenship at risk. It is powerful, but it's also targeted to get the national security job done and not punish U.S. companies," Raimondo said.

The Rhode Island Supreme Court relied on the now-reversed Roe precedent in finding that the 14th Amendment did not extend rights to fetuses. The Roe ruling had recognized that the right to personal privacy under the U.S. Constitution protected a woman's ability to terminate her pregnancy. The old Rhode Island laws included a criminal statute, predating the Roe ruling, that had prohibited abortions. After the Roe ruling, a federal court declared that Rhode Island law unconstitutional, and it was not in effect when the Democratic-led legislature enacted the 2019 Reproductive Privacy Act. More than a dozen states have enforced near-total abortion bans since the Supreme Court's abortion June ruling in a case called Dobbs v. Jackson Women's Health Organization.

REUTERS/Francois LenoirWASHINGTON/BRUSSELS, Oct 7 (Reuters) - U.S. President Joe Biden on Friday signed an executive order to implement a European Union-United States data transfer framework announced in March that adopts new American intelligence gathering privacy safeguards. Judges with experience in data privacy and national security will be appointed from outside the U.S. government. European privacy activists have threatened to challenge the framework if they did not think it adequately protects privacy. Austrian Max Schrems, whose legal challenges have brought down the previous two EU-U.S. data flow systems, said he still needed to analyze the package. "At first sight it seems that the core issues were not solved and it will be back to the CJEU (EU court) sooner or later," he said.

☆ The U.S. and its allies are joining forces on chips. That could stop China reaching the next level
▼ + stars: | 2022-09-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +9 min

Leading chipmaking nations including the U.S. are forming alliances, in part to secure their semiconductor supply chain and to stop China from reaching the cutting-edge of the industry, analysts told CNBC. But the semiconductor supply chain is complex — it includes areas ranging from design to packaging to manufacturing and the tools that are required to do that. "The other geopolitical significance is just related to Taiwan's central role in the semiconductor supply chain. Alliances being built that exclude ChinaBecause of the complexity of the chip supply chain, no country can go it alone. One is about bringing together countries, each with their "comparative advantages," to "string together alliances that can develop secure chips," Kotasthane said.

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