Gina Raimondo called the move 'economic coercion.' China took the action a day after G7 leaders agreed to new initiatives to push back against such efforts by Beijing.
leaders of the G7 industrial democracies agreed to new initiatives to push back against economic coercion by China -- a decision noted by Raimondo.
"As we said at the G7 and as we have said consistently, we are closely engaging with partners addressing this specific challenge and all challenges related to China's non-market practices."with China's Commerce Minister, Wang Wentao. She also said the IPEF agreement on supply chains and other pillars of the talks would be consistent with U.S. investments in the $52 billion CHIPS Act to foster semiconductor production in the United States.
"The investments in the CHIPS Act are to strengthen and bolster our domestic production of semiconductors. Having said that, we welcome participation from companies that are in IPEF countries, you know, so we expect that companies from Japan, Korea, Singapore, etc, will participate in the CHIPS Act funding," Raimondo said.
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