April 27, 2022 15:58 GMT
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Commerce Secretary Gina Raimondo has delivered testimony to the Senate Commerce, Science, and Technology Committee on tech policy, supply chains and superconductor shortages.
- Raimondo: 'With respect to chips I don't think its an exaggeration to say this is a national emergency and it is affecting our national security.'
- Raimondo described the chip 'bottleneck': 'Average consuming industry actors have a maximum superconductor inventory of five days.'
- Raimondo also said that chip investment was critical to the Ukraine war: 'There are 250 chips in every javelin missile system.'
- In response to a question from Senator Amy Klobuchar (D-MT) on the American Innovation and Choice Online Act, Raimondo: 'The department and I certainly support that and concur with the aim of the legislation and the views expressed in that views letter.'
- The remarks from Raimondo remarks represent a significant support from the administration on antitrust legislation that will target big tech.
- The hearing can be viewed in full here: https://www.commerce.senate.gov/2022/4/commerce-co...