White House imposes new export curbs on Nvidia AI chips for China, Russia

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White House imposes new export curbs on Nvidia AI chips for China, Russia - Business Standard

Quick Summary:

Raimondo stressed that the Biden administration sought to strike a balance between protecting national security and allowing trade in chips to continue.

In a statement last week, ahead of the rule’s official publication, Cruz said that he would consider “every tool” — including the Congressional Review Act — to protect American industry from “unnecessary overreach.” The CRA allows Congress to overturn certain rules by executive agencies.

Senators Ted Cruz and Maria Cantwell, the top Republican and Democrat on the Commerce Committee, made that argument in a December letter to Raimondo.“Such draconian restrictions would severely hinder the sale of US technology abroad and risk driving foreign buyers to Chinese competitors like Huawei,” they wrote.