Lovely talks to Politico about the China-directed USICA

Lovely,-MaryThe House will soon be moving ahead on Senate Majority Leader Chuck Schumer’s China-targeted $250 billion U.S. Innovation and Competition Act (USICA), designed to preserve a competitive technological edge over China through the injection of tens of billions of taxpayer dollars for various initiatives, including U.S. semiconductor manufacturing and "buy American" requirements for federally funded infrastructure projects. Chinese officials have warned that reprisals are coming, should the bill become law. "China does not have many ways to hurt the U.S. now without damage to itself, but reducing the flow of strategic inputs for electrical vehicles would be a possible avenue for retaliation," says Professor Mary Lovely. She was quoted in the Politico article, "China blowback looms for Schumer’s Innovation and Competition Act." 11/29/21