The Latest Breaking News from Gina Raimondo

The Biden administration is allocating $75 million of CHIPS Act funding to Absolics to build a plant for glass semiconductor substrates in Georgia. Glass substrates are the next major step forward in semiconductor fabrication.

The U.S. will increase import tariffs on Chinese semiconductors from 25% to 50% in 2025.

Plus, an AI-generated recipe for garlic lovers' shrimp scampi

The US government has broken its record for most Chinese entities on the Entity List at once, with quantum research in China and elsewhere receiving fresh new sanctions and blockades.

As Chinese relations with Taiwan remain strained, the US continues to reinforce the importance of chip manufacturing on home soil.

Taiwanese chip giant TSMC said on Friday that April revenue jumped nearly 60 percent on-year, riding a huge wave of demand for the advanced semiconductors used in AI hardware.

"Extreme action" against companies like BYD is possible, said U.S. Commerce Secretary Gina Raimondo.

If China captures Taiwan and TSMC, this will be a major blow for U.S.-based companies and economy, which is why U.S. invests in its own semiconductor production, says Gina Raimondo.

We also discuss Tesla's hiring freeze, the potential ban of Chinese connected cars in the U.S. and Ford rethinking its plan to go all-electric in Europe by 2030.

Learn about the Commerce Department's new restrictions on U.S. firearms exports to prevent misuse and enhance national security.

Samsung Electronics this week was awarded up to $6.4 billion from the U.S. government under the CHIPS and Science Act to build its new fab complex in Taylor, Texas. This is the third major award under the act in the last month, with all three leading-edge fabs – Intel, TSMC,…