William Alan Reinsch, Jack Whitney, and Matthew Schleich
Introduction
With geopolitical competition intensifying, U.S. economic security policy has undergone significant changes. Primarily, the United States has expanded economic security measures to take new defensive actions around critical and emerging technologies (CETs). Such efforts center on denying China access to key foundational technologies—particularly advanced semiconductors that support dual-use applications such as artificial intelligence (AI).
The administrations of Presidents Donald Trump and Joe Biden have expanded economic security measures regarding China’s access to CETs. Export controls are an increasingly common tool in U.S. economic security efforts, and National Security Advisor Jake Sullivan has called them a “new strategic asset in the U.S. and allied toolkit.”1 Under the Biden administration, the federal government has implemented two major rounds of semiconductor export controls, one in October 2022 and a second in October 2023. Additional controls may be forthcoming as the United States aims to use trade restrictions to deny China access to leading-edge semiconductors, thus limiting China’s ability to develop military and dual-use technologies such as advanced AI systems.2
The potential benefits of such a strategy to economic and national security are obvious. They include maintaining technological superiority for modern military capabilities and intelligence gathering. Washington sees clear, legitimate risks associated with the proliferation of highly advanced semiconductors among its adversaries. A sensible U.S. export control policy focused on preserving technological superiority is a measured response.
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