US Commerce Chief to Push Investment in Domestic Economy

WASHINGTON—U.S. Commerce Secretary Gina Raimondo plans to outline her vision for U.S. investment in its domestic economy and doing more to compete with China, in a speech on Tuesday. “For America to compete globally, we must invest domestically—in American workers, American businesses, and American innovation,” Raimondo will say at the Washington Economic Club, according to excerpts from the speech. Congress is considering awarding the Department of Commerce tens of billions of dollars to extend broadband services to areas lacking high-speed internet and $52 billion to boost U.S. semiconductor chip production. Raimondo’s prepared excerpts say she will argue China’s R&D spending requires a response: “We must expand R&D investments and move innovations from the lab to the marketplace at 21st century speed.” In a roundtable media interview Friday, Raimondo singled out China, saying it was dumping cheap steal and aluminum and not living up to a 2020 trade agreement to buy …Read More

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