It’s about time.

Biden banned most American chip sales to China. This backfired because the policy practically begged China to build its own chips. We estimate this policy and the Chinese response, outright banning US chips from Chinese data centers, has cost American manufacturers about $50 billion in lost sales and the US Treasury $7.5 billion in lost tax revenue. Brilliant!

We didn’t win the internet wars by banning Google and Apple products in China. We stayed three moves on the chess board ahead of them.