China's interest in acquiring U.S. semiconductor manufacturing capability is raising red flags in Congress. In June, U.S. Rep. Dana Rohrabacher (R-Calif.), as chair of the Committee on Foreign Investment in the U.S., wrote Jacob Lew, the secretary of the U.S. Treasury, saying he was concerned "at what I witness to be a gutting of domestic semiconductor capability by China-funded acquirers."
Rohrabacher referred to China's announcement, last year, detailing "an ambitious $100 billion program to invest in and acquire semiconductor companies and technologies." He urged Lew to scrutinize China's effort.
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