Gina Raimondo: U.S. needs to lead in AI, quantum and biotech in order to win and outcompete China

Strategic Focus - The US needs to lead in AI, quantum computing, and biotechnology to outcompete China and ensure American security [3] - Securing supply chains and increasing domestic production of medicines are crucial, especially in biotechnology [4][10] - China has increased its investment in biotech by 400 times (40,000%) in the past ten years, highlighting the urgency for the US to enhance its capabilities [4] Competition and Innovation - Winning against China requires out-innovating and accelerating technological advancements, rather than solely relying on holding China back [7] - The US should leverage its strengths, including deep capital markets, innovation, risk-taking culture, and universities [7] - Denying China the most sophisticated technology is necessary for national security, but innovation is key to long-term success [6] Supply Chain and Critical Minerals - The US is dangerously dependent on China for critical minerals like copper, lithium, and rare earths [9] - A holistic strategy is needed for mining, processing, and manufacturing critical minerals, potentially involving allies [9] - The US relies heavily on China for medicines and contract manufacturing, necessitating increased domestic production and reliance on allies like Korea and Europe [10][11] Policy and Tools - Targeted tariffs can be a useful tool, but blanket tariffs may simply raise prices for consumers [12] - The US government has a variety of tools beyond tariffs, including DoD procurement and stockpiles [13] - Incentivizing private sector investments, similar to the CHIPS Act, is important [13]