GOP Sen. Banks: We Shouldn't Sell Any Chips to China, Lutnick and NVIDIA Lobbied Against Bill on That

On Thursday’s broadcast of the Fox Business Network’s “Kudlow,” Sen. Jim Banks (R-IN) argued that there shouldn’t be any chips sales to China and said that Commerce Secretary Howard Lutnick and NVIDIA lobbied against his legislation against selling chips to China. Banks stated, [relevant remarks begin around 4:25] “None of our chips should be sold to China, especially when there are American customers who want to buy those chips first.” He continued, “That’s what my bill last year that NVIDIA lobbied strongly against, Secretary Lutnick was against it as well, so — to stop my bill from passing that would’ve applied an America first principle to our chips sales to foreign customers, especially China. We shouldn’t be selling them our chips to begin with. It only helps them in this AI race. They want to win the AI race, and they want to extinguish America’s economy in the process. We can’t let them get away with that. Why would we ever help them? So, that’s why this fight is so important.” Follow Ian Hanchett on Twitter @IanHanchett