Good morning everyone and the online audience. We are fortunate today at csis to have don graves. He has years of experience in the government and private sector. He was executive Vice President and head of Corporate ResponsibilityCommunity Relations at key bank and at the obama Biden Administration, counselor and economic domestic and economic quality advisor for Vice President biden and executive director on the council of jobs and competitiveness and deputy desisted assistance. A long experience of commercial activity in washington. We are going to talk about all of the challenges that comments and the United States face today in the world and things have changed a lot where congress has a Central World in Economic Policy and National Security and international relations. Please. [applause] good morning everyone. Thank you so much for that kind introduction and thank you to the center for Strategic International studies were hosting us for hosting us. I want to thank you for being here. Thank you to all of us joining us online and it is wonderful to be here. Earlier this year, the dutch manufacturer a snl announced an expansion of their facility in connecticut. This expansion is expected to create 1000 new jobs and will support asml. I was thrilled to join not just because our partners are creating jobs in the u. S. But because of the recognition that American Manufacturing is back at. As time where attracting this kind of investment to the u. S. Is central to our work in the Commerce Department. Asml is one member of the ecosystem of private Sector Companies around the globe to for choosing to invest in the United States as her home for semiconductors. It is a part of a larger story about americas reengagement to the world. These types of investments that are crucial, they dont happen automatically. Date require effort on the part of the they require effort on the part of the government. I will take time to discuss how the u. S. Department of congress is delivering on President Bidens International Engagement and how it is critical to being what he is calling the defined chairman defining challenge of our time, ensuring Democratic Institutions make gains for the american people. Throughout our history, we have recognized the foundation of a prosperous and inclusive and is stable stable world order. Free democratic societies that value the law of inclusion, offer availability of goods and ensure opportunities and protections for the middle cast middle class and enable and protect innovation and entrepreneurship with creative and inclusive capital markets. This work does not just reflect our highest ideals. We have adhered to the principles. Our geostrategic advantage as a country and global leadership. When President Biden to call office, we were grappling with decades of underinvestment in our infrastructure, our workers, Small Businesses and communities of color. Supply chain vulnerabilities and labor surges undermined american america. Foreign competitors use unfair subsidies. Arnon democratic adversaries are more aggressive to control supply chains. They export authoritarianism and conflict. There are getting more aggressive in stealing intellectual property. We have and stood up to the challenge. That has allowed the adversaries to make a brown, sometimes forcing countries around the world to unfair trade agreements because they like alternatives because we dont show up in the world has been changing to demand world more, not less u. S. Leadership. The pandemic, the Climate Crisis and russias unjustified invasion of ukraine and these are compounding threats. The Biden Administration is responding to these challenges by investing in infrastructure, promoting equity and building longterm resiliency through stronger Climate Change action. We need to during his campaign, President Biden pledged that he would renew u. S. Democracy, protect the Economic Future and have america lead the world. I would like to focus on three areas where the Commerce Department is doing just that. And promoting the u. S. Private sector as the International Partner of choice. It is imperative that the u. S. Provides the alliances in countries that share our values and where economic interests are intertwined. I know there are some that questioned the values of farming beast alliances forming beast alliances. These alliances. From europe to the indo pacific, we are developing new forms of engagement that are fit to purpose our most pressing challenges. From combat and corruption to charting the future of the digital economy. Our Alliance Building efforts are exceeding expectations. We stood of the u. S. Eu trade deepen our commitments and the president now is our intention to forge an American Partnership for economic prosperity. We promote trade and investment between the u. S. And africa, via prosperous africa. And the u. S. Africa leaders summit. As these efforts, we reject the notion that attracting private Sector Investment requires an endless race to the bottom, arming American Workers and businesses. The new economic alliances are about developing shared rule of the road and allowing High Standards. We are relying on joint partnership between businesses and government to support joint research and sharing, Innovation Ecosystems and to promote investments. These efforts are making a difference. Lets take steel. China was able to flood the Global Market with cheap steel, making it more difficult for American Workers to compete. The Previous Administration promoted tariffs on steel on the e. U. And japan. So vania based american cake, the only cake manufacturer in the u. S. , was having trouble obtaining stainless steel. The congress occur 3 Million Pounds of u. S. Steel. Instead, we have secured new agreements with the e. U. , u. K. And japan on steel that are protecting american jobs. Avoiding retaliatory tariffs, reducing inflationary pressures and alleviating a major supply chain crotch. This was facilitated by the relationships and goodwill. By revitalizing economic alliances through these kind of agreements, we are rebuilding relationships and fighting unfair trade practices and creating a Global Economy for americas workers and businesses. Our second area of focus is to protect the national and economic security. To meet this need, the department of commerce deployed tools. We employ and enforce controls on sensitive goods, software and technology to ensure products are not used by that actors. In the Biden Administration, we broke new ground. Nowhere is better illustrated than the measures we imposed against russia for invading ukraine. We built a coalition of 37 likeminded partners from europe to the indo pacific and all of them agreed that russias actions represent a global security. This momentous and unprecedented collaboration is having the desired effect. Russia is struggling to access vital technical input. Its semiconductor imports, have dropped by 74 since we took action. The Aerospace Controls we put in place are restricting russias ability to generate revenue. Russia may be forced to ground between half and two thirds of its commercial aircraft in order to use them for spare parts. That is having a real event. Russias wii has floundered significantly and you could shrink by 15 . Overall inputs imports could collapse by 30 . We are pushing back by from unfair trade practices by global competitors. We continue we are monitoring trade agreements to make sure foreign governments are complying with their obligations. We remain vigilant in our view of inbound investments to u. S. Companies and operations for National Commercial national concerns. We are working to prevent foreign adversaries from getting a foothold with their technologies that threaten our National Security, including the system that underpinned our Critical Infrastructure appeared we are taking action under President Bidens executive order to address the threat posed to our information and communication technology. Through these tools, both offensive and defensive and in partnership with our allies, we are protecting our National Security and ensuring fundamental fairness for our workers and businesses. The third area of focus is promoting the u. S. Private sector as the partner of choice globally, including in developing countries. While direct foreign aid is important, we need strong contributions from u. S. Businesses. We rely on their historical strengths as longlasting historical partners and worldclass investors. This is critical to differentiating ourselves from our geostrategic competitors, especially in the area of Global Infrastructure. The u. S. , our International Partners in the g7 and our private sector have a long history of providing financing and Technical Support for highquality Infrastructure Projects around the world. Yet, for many years, we have faced several challenges. Lower cost, but lower quality competition. More aggressive commercial diplomacy by our competitors. Risks to doing business in foreign markets, coupled with Market Access barriers. As a result, our businesses miss out on opportunities to deliver infrastructure at scale around the world, while also creating jobs in the u. S. Ortner countries have missed out on infrastructure options, so not only responsive to their needs, but more impactful and sustainable relative to their national goals. The good thing is, that is changing. Last month, the president and g7 leaders formally launch the partnership for Global Infrastructure and investment, or tgi i. The partnership will boost efforts to offer highquality, highimpact infrastructure options. Together, the partners will bring to bear over 600 billion dollars in public and private investment, with the u. S. Contributing 200 billion over five years. Through pgii and the longstanding work of our u. S. And foreign commercial service, commerce is redoubling its efforts to offer developing countries offer infrastructure options across strategic sectors. U. S. Companies have signed deals to reflect this High Standard and highimpact approach. I saw this firsthand in my coat of wire in june. The company was awarded a 320 3 Million Health care Infrastructure Project to renovate or construct over 100 hospitals and clinics across cold war. Leveraging our ideas, resources, goods and services and working closely with laborious to create opportunities for both countries. I have heard similar sentiments from governments and private sectors around the world. This is one example that, and i think an emblematic example of what the u. S. Is doing globally. Working with partner countries to improve the commercial enabling environment for our companies, improving financing options, growing the pipeline of highquality, bankable projects and positioning the United States business at the front end of the deal pipeline, rather at the end of the deal pipeline. Before i close, i want to emphasize that equity, something the president talks about all the time, equity underpins all of our work. When we create new, interNational Commercial opportunities in infrastructure, cleantech, digital, health care and so on, we want more of our Small Businesses, more of our women and minority owned companies to compete on a level Playing Field. That will ensure our success abroad, our commercial success, is broadly shared at home. Especially for our Small Businesses, businesses in the heartland. Women and minority owned companies, historically marginalized communities. Many of these covenants, especially in the aspirate communities, not only reflect the diversity of our nation, but they are also best position to help us in many of these places around the globe. We are at a critical moment. If we act decisively along the lines i have described, we can continue to shape the International Economic order in ways that reflect our values, expand opportunities for americans for years to come. With our itll class and its prosperity as our deacons, we have the opportunity to revive economic relationships that play to our strengths and fit specific challenges of this time. We can foster opportunities abroad and create opportunities at home. In the last 18 months, the Biden Administration has laid the foundation for a new approach to economic engagement. Through these actions, we will create as i have said before, highquality, high paying jobs of the future. We will boost export opportunities for companies, we will unleash innovation so we can address the problems of today and the future like Climate Change. If we do this right, we will uplift women, people of color and underserved communities across the country. Under the president s leadership and with the Commerce Department taking a central role, america is back on the world stage. By revitalizing alliances, protecting our security and focusing on being a partner of choice, we can usher in a new era of common peace soon prosperity, meeting pressing needs and securing American Leadership in the 21st century. I am honored to be doing that work. Thank you area much. [applause] i have a few questions. Great speech. I think we have time, we have a couple of. You should get a card and write out your question, we can take a couple questions from the audience and the online audience. Georgia, if you can hold up your hand for people who might need a card. Let me start by asking you, you mentioned a couple of things. You covered a lot of ground in that speech. [laughter] what you mentioned, the partnership for Global Infrastructure and investment and the g7, and its competitor, the belton road initiative. What is it going to take for g7 countries to be competitive . What are our partners looking for . That is a great question, something we spend a lot of time thinking about. Honestly, belton road has been around a little while. It has had some impact. With the what the world is seeing is that belton roads investments are not all they are cracked up to be. The numbers sound big, but that the end of the day, at the end of the day, you have heavy burdens of debt laid on countries that cannot afford it. You have Infrastructure Projects, which are not always anywhere close to the quality of standard that you get from u. S. Companies, but g7 countries. It means that you are getting the type of development in these countries that does not come with the training, the work was development, that our types of investments do. Our approach to this, with the pgi, is to focus on those issues. Making sure that highquality Infrastructure Projects, where we are bringing the right type of investment that does not produce a huge debt burden on the countries that are receiving this infrastructure investment. And, perhaps most importantly, we are doing in a way that is built off of the desire of the countries with whom we are working with. Having those conversations directly, in spite of traveling the world in brazil, ghana, talking with the leaders, asking them what it is they want. What are the types of Infrastructure Investments that they are looking for, and making the connections, making the investment. Bringing u. S. Businesses to the table to help build those projects. As i said, high labor standards. Part of making sure we are doing this in a way that helps build opportunities for u. S. Companies, and especially for u. S. Workers, is helping those other countries develop High Standards and protections for their own workers. Training, make sure they have the type of development so that it is sustainable. Not that we are going and building roads or bridges or ports or what have you, and then walking away and leaving them without the capability of sustaining those project. At its core, making sure these projects are resilient and sustainable. What are some of the challenges of working with our european and asian allies . You are inheriting somewhat messy situation from the Previous Administration, what are the challenges that you face in getting them to cooperate . [laughter] you said that is the biggest challenge, it is reengaging in ways where we are building the trust. There is a lot of trust that was lost. The u. S. Had always been seen as a partner of choice, even when we disagreed with our partners and allies over the years. We always found ways to come back together, we always found ways to work towards a common goal. What we have seen, they did not have that trust coming out of the last administration. Everyone we talked to believed the u. S. Was really in it for themselves, and did not understand that the only way to succeed promptly was to build those common approaches around shared values and frankly, we had been working very hard to rebuild those relationships. It has resulted in the u. S. Eu and Technology Trade council, the indo Pacific Economic framework. Unfortunately, perhaps the thing that has catalyzed the great sir mount of partnership surmount of partnership has been our reaction to russia. We worked closely with our allies from the start. Sharing our intelligence, we were prepared as soon as putins military started the invasion and we were able to build those partnerships over time, show that what we saw was the reality on the ground. You could build that trust over time. My expect tatian Going Forward, my expect tatian Going Forward, we see that they under expectation Going Forward, it isnt just the u. S. Making opportunities for ourselves, it is making sure that we are doing this, recognizing our friends and alleys are going to be right there with us. Frankly, that we understand that we cannot make everything. We cannot do everything in the u. S. , it is physically impossible when you look at the supply chain. Those things we cannot do here in the u. S. You have been active, the administration has launched a whole set of initiatives for economic alliances. Economic and security alliances, you mentioned ttc, the quad, youve got other stuff going on in the indo pacific. One of the questions we get relatively frequently is, none of these are trade agreements. Do they early make any difference . What would you say to that . You are right, none of these are traditional Market Access agreements. Those are things we cannot do right now, given the state of politics, particularly on the hill. What a way what we are doing is building a new set of tools, a new set of mechanisms to allow us to build partnerships and alliances that will work to our mutual benefit. What we are doing is creating opportunities to, as i said, build up standards in a range of different ways. Standards around climate and resiliency and sustainability, standards around labor practices and worker rights. High standards on the quality of products and projects. If we can get our partners and allies to agree on these things, it makes our businesses much more competitive around the world. It makes it easier for american businesses to succeed, American Workers to succeed. If we do not do this, there our competitors will make the International Rules of the road. We just cannot allow that to happen. Have to make sure we are part of the game, and we are engaging in these conversations. I think about what we are doing with i path and the ttc, we are focusing on the digital economy. We are focusing on issues like tax and anticorruption, we are focusing on ways that we build resiliency in a and high, environmental standards. There is our tangible sets of things we can do as we engage with our partners around the world. In some ways here, the countries believed commercial diplomat. When you show up in these places, what is it you say to them . What is it the pitch, is it different by region . Generally, it is those things i talked about in the speech. We are meeting with the power of our leading with the power of our values and we are talking about the core, democratic and suppose that drive this country, that make us a great partner. We are therefore a mutually beneficial arrangement, oftentimes, a bilateral relationship where we are not there to take out whatever resources we can for our benefit. We want to create these opportunities for them to grow their economy, create longterm opportunities for their own workers, but we are also creating opportunities for us to invest in countries. That is what i say to every leader across the globe, and they believe it because they know who we are. The other part of this is bringing u. S. Business to the table. Every one of the leaders that i have spoken to in brazil, ghana, other places of the world. The thing they value most about the United States is not just our resources or the name, it is that we are bringing the most innovative, private sector in the world. The best ideas to the table. We are bringing the best quality products and workers all to the table at one time. Those leaders value us, and would much rather use us as their partner of choice than other countries around the world. It may be a followup question that we got from the audience, it is a long question. I will read it trade the u. S. Has been clear on encouraging supply chain resiliency with u. S. Manufacturers, particularly in respect to reliance on china as a critical supplier. What is the usg doing to encourage you are and as europe and asia to move in a similar direction . This as Company Investment has increased in china, which provides some Market Opportunities not available to u. S. Companies. I think it was the question which i mangled, i apologize to the author. We are building resiliency. Where does china fit in, it is a huge market. American companies have told me 50 to 60 of their revenues in some case might come from china. What would you say to that . I think it is having direct engagement with our partners and allies through things like ttc and i path. China is going to be a commercial partner of the u. S. Businesses. To your point, it is a huge market. That means it is a market opportunity. Just as importantly, we have to focus on those areas of criticality for us, the points in the supply chain and in the supply chain of our allies and partners. Making sure that when push comes to shove, if we face another pandemic, when we face the types of impacts as a result of Climate Change, if there are more geopolitical clashes like we are seeing in ukraine with russia, we are going to be prepared to deal with the supply challenges Going Forward so we can protect against the types of things we have seen over the last two years, where we did not have enough semiconductors for our phones, our computers, our cars, our business equipment. We have to protect against and mitigate against those types of supply chain restraints Going Forward. That is why it is so important for us to work with our partners and allies in europe and indo pacific and americus and elsewhere, to make sure we are willing a much more resilient supply chain, both here and with our allies. We cannot produce everything, we do not have all of the resources we need. That is why it is absolutely vital for us to build these relationships and strengthen them right now. May be the flipside of resiliency, your ability to depend on yourself. Your ability to protect your own technology. You brought that up in the speech. It is going to be a big topic, i know in preparing for this, we talked about export controls, Foreign Investment. What does the future hold in these areas . When i started doing the stuff, i thought export controls were ancient history. Now, they are front and center. What are you doing . You know it is very well having been one of the architects of the arrangement, we have strong export control systems in place around the globe. The problem is, when you have nondemocratic countries that are part of these arrangements, when you have countries that do not share our values that are part of the arrangement, they can hold these types of tools hostage. Out of the three of the four major export control arrangements in the world, russia is a member. That poses real problems and being able to develop and utilize this tool in a affective way, when you need to use it against a type of unwarranted aggression, such as for russia. So, the key for us is building new arrangements, or new structures, whether that is a type of arrangement we have seen with , or creating virtual arrangements like we have done as it relates to the response to russia and ukraine. Building these alliances, where you are leading with your values and symbols and and principles, and you can do that to ensure that not only are you able to respond in a timely fashion to aggression, it also is a bit of a warning to countries that might seek to engage in these types of things, whether it is economic coercion, or some type of military action. They know we have built partnerships that will stand the test of time, and we will be prepared to use them if we have to. Were you surprised at how quickly people came together on the ukraine . I think the russians were surprised. I know the russians were surprised, as were other folks around the world. This took a lot of work here and we began talking to our allies and partners late last fall about what was going on. It took months and months and months of coordination, late night calls, my team and i were spending our weekends, late nights, middle of the night getting in secure facilities, doing video calls, doing conference calls. Sharing intelligence, sharing the mechanisms that we had in place to compare with the mechanisms that they had in place. Not every country had the same set of laws and rules, and opportunities to use these export controls. We built that coalition, we built that structure over a matter of many, many months. So as soon as putin moved in, we were ready to deploy these tools effectively from the start. It is having a huge impact. The key is recognition that we could not do it alone. Russias imports of goods and services, especially the technology they need, does not necessarily come from the u. S. In fact, 40 of their imports came from our partners in europe. That is a huge percentage of their imports. In order for us to have maximum impact, we need it to build that multilateral approach, that coalition of partners, that could lever on the export control tool and make sure it has a biting effect. I think as time goes on, it will continue to have an even more, Significant Impact on putin, his war machine, and the russian economy. Is ukraine a precedent for tech transfer in the future . I think it has shown is a good example of the way that we can build the framework of likeminded countries to stick it to countries that engage in physical intimidation or in military action for economic coercion. One of the questions that has come up is, result. Not american resolve, but we have got a lot of partners in this effort. They are under some pressure. We know the gas story in europe. One of the prospects what are the prospects for the People Holding on, what do we need to do to make sure it happens . It is a balance. You use the tool of export controls as the hammer, if you will. You also have to find ways to make things easier for your partners and allies. Frankly, we tailor our expert control effort as it relates to russia specifically to half the maximum impact on russia, and the least impact on our economy and our workers, and those of our allies and partners. As you point out, they are dealing with real energy concerns. That is why we are doing everything we can to reduce the challenges to that supply chain, in particular. Making sure we are moving as quickly as we can to provide support around clean Energy Projection production, making sure we are providing Additional Support with u. S. Liquid natural gas. Also, working with our allies and partners around the world to make up some of the energy needs that europeans were relying on russia for, getting it from asia, the middle east and elsewhere. Continuing to find ways to mitigate supply chain issues, while at the same time, continuing to use that export control tool as a hammer. Continuing on the protect theme for a little longer. You mentioned i tf in your speech, it is a topic relatively new. It was not as big a deal of years ago from years ago. I track it simply by judging the numbers of calls i asked me what is happening with tiktok. Where do you see us going, you can talk about tiktok if you want. In fact, we can put this on tiktok if you want. [laughter] we will not. Where do you see i ctf going to protect ourselves . I ctf is one of several tools at our disposal to look at the challenges of technology and communications. The opportunity to use sify at communities on Foreign Investment in the u. S. , some of the work we are doing with partnership with congress that we expect will come out of the chips at. Making sure we are able to fully investigate and understand the challenges that companies that adversaries posed to the u. S. , not just our economic security, but our National Security. We saw this as related to , that posed a real and present danger to u. S. Systems, to our infrastructure. The Chinese Government p. R. C. Was going to use that as a means of getting access to our systems. That is going on on a daily basis around the world, with a variety of adversaries. We need to use our i ctf tools, including through executive order the president signed earlier or last year, it includes working with sify us, it includes some of our regulatory mechanisms, as well. Working with the fcc to make sure the fcc has all of the relevant information it needs as it is investigating companies that are seeking to buy other companies, or technologies. Coordination is key, though. It is not just the u. S. , it is working with our partners and allies around the world. Frankly, there are backdoors that our adversaries are likely using by going through our partners that do not have the same strengths or tools that we do. The more we can do to share information to partner and collaborate, the more effective we are going to be. Make no mistake, the u. S. Is going to be very vigilant. We are going to push very hard on any adversary that seeks to try and find ways to undermine our National Security. Another question we got is to ask you about the president s announcement. I know you are going to saudi arabia, but he announced when he was in saudi arabia that we would help develop Networks Using open radio access, oh ran oran. What can you tell us about the future of economic partnerships in that region of the world . I have made a couple of trips to the region. This was one of the leading issues in my conversation with leaders there. It is the value of oran, open radio access networks, it allows for innovation, it allows for a range of businesses, especially u. S. Businesses, to utilize spectrum in a way that can provide value to those countries. Most of them get that, but it is continuing to engage in those conversations to share information. There is a lot of misinformation out there about how the u. S. , the big, bad u. S. Is using oran as a means to donate dominate the technology of the future, the systems of the future. We may dominate, but that is because we have the best companies, the best innovators in the world. Not because we are doing so and trying to coercively try to take over other countries systems. We can do it in ways that help lift up other countries business, that is the other part of this, is engaging with countries in regions all around the world to help them recognize that we want to be partners. Our businesses want to be partners with their businesses. We want to find ways to lift up their small and Midsize Enterprises like we are lifting up hours. That brings together that mutually beneficial relationship. We have a little time left, weve got three more questions. What are the benefits and what are the outcomes you want from the alliances . What do you get from tcc and quad . Goes back to what i am saying. We recognize if we we are not at the table if we are not building a framework that works for us, others will set the rules of the road. They will dominate the new World Economic order . We need to make sure we are at the table for our businesses. It is not about the u. S. Doing it just for our own interests. Is helping other countries understand that we can do this that can help all of our businesses. There are folks countries who want to dominate the markets and use economic coercion. We can build High Standards around sustainability, resiliency and High Standards for labor to make sure our workers are playing on a level Playing Field and we are building the right standards around highquality products and projects of our businesses can compete. The worst thing is if we let our competitors win using lowcost, quality products, low labor standards and very low environmental practices. That means we wont be able to compete so we have to be at the table. Do you want to say more about standards because that is a topic that did not did not used to be a top analysis. Standards is viral for the vital for the u. S. What we need is to make sure that other countries abide by and adhere to the standards and agree with them. Through the relationships we have built as it relates to expert control and artwork relating to russia and ukraine, they are also understanding the standards that we are building their are standards in other places. If we are building a level Playing Field, we create the environment that works for all of the businesses, it means the u. S. Does not have to play catchup like we have done over the last few decades. It means we can ensure that not only we can compete but we are not continuing to pollute the environment. We are not contributing to Climate Change and we are protecting the workers but workers around the world, preventing human rights abuses. With our values leading is what our values is the best way to engage with the world, whether it is standards or trade relations or dealing with most countries that engage with unwarranted military incursions or economic coercion. Last question. You knew it was coming. Good chips act the chips act. If the chips act will pass, what is the first steps. What are the first steps for implementing the chips act . Is not an if, it is when. We expect the senate will pass the chips act this week. The house will take action by the end of the week so we will get into the president s desk. The chips act will pass. What it does, it gives us the resources we need. Countries around the world, china spends 50 billions of dollars to advance their set conductor capabilities Semi Conductor capabilities. We used to lead the world in semiconductors and now we produce talk percent of chips and we dont produce the advanced chips. That is why we need the chips act past. Passed. Allows us to build the entire ticket system. That is a great thing, not just for ohio but for the entire country but we have to make sure the entire ecosystem is resilient. That includes the design fade phase and the total makers and fabrications and packaging. That entire ecosystem around Semi Conductors has to be more resilient and we can do that if we get the chips act passed. As part of the ecosystem are still here and brought back to the u. S. , not just allowing the rest of the world i wont say steel but to drive that economy. We can be resilient if we dont have access to those critical supplies. 80 upholder to that question maybe a coda to that question. What does the chips act do a goes to a multilateral approach it goes to a multilateral approach. We know we dont control the entire semiconductor industry. Even if you give the chips act past, that doesnt mean we will dominate. Our partners in japan and taiwan and korea and across the e. U. And other parts of the globe, they controlled some parts of the Semi Conductor ecosystem. The more that we can do the partner with them economically build more resiliency in the Semi Conductor industry to make sure that we are getting more access to the components of and critical minerals. The better it is for us and the better it is for our partners. Comment partnership is a good note to end on. We covered a lot of ground. Thank you for taking these questions. Thanks to the people watching. Thank you very much for all you are doing. Thanks so much. Everyone have a good day. [applause] [scattered conversation] cspans washington journal. Every day we take your calls live on the air on the news of the day and we discussed policy issues that impact you. Coming up Tuesday Morning we talk about the recruitment challenges facing several military branches and what that means for all volunteer forces in the future, with retired Lieutenant General thomas. And documentary writer and producer bonnie talks about her new pbs frontline film, facing addiction, focusing on addiction during the coronavirus pandemic. Watch washington journal live at 7 00 eastern Tuesday Mornings on cspan or on cspan now, our free mobile app. Join the conversation with your phone calls, Facebook Comments, Text Messages and tweets. Tuesday morning, a hearing on the safety of Law Enforcement officers, including the impact of assault weapons and gas and gun laws. Watch the Senate JudiciaryCommittee Live at 10 00 eastern on cspan, cspan now, our free mobile video app, or online at cspan. Org. Live sunday, august 7 on indepth, columnist and talkshow host larry elder will be our guest to talk about political correctness, the left, and racial politics in the United States. 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