At a defense industry forum last week, Commerce Secretary Gina Raimondo stated that her Department, particularly the Bureau of Industry and Security, needs additional funds to protect America. Almost immediately after her remarks, the House Select Committee pushed back. Details inside.
Last week, the Bureau of Industry and Security at the U.S. Commerce Department imposed export controls on additional types of semiconductor manufacturing equipment. The package of new rules reinforces restrictions that were announced one year ago. Details, the rules, and context inside.
Last year, an interim rule was issued that enabled the Commerce Department to ban or restrict certain transactions that pose a risk to national security. That rule is now effective, and Commerce has issued its first subpoenas to review such transactions. Details are inside.