China export controls will hit companies’ revenue: US commerce secretary Gina Raimondo

US commerce secretary Gina Raimondo said on Wednesday that the Joe Biden administration is seeking to carefully target US controls on exports to China, but rules will cost firms some revenue.

Restrictions should not be so broad “that you deny American companies revenue and China can get the product elsewhere, or China can get the product from other countries,” Raimondo said at a forum. Rules “will deny some revenue to American companies, but we think it’s worth it.”