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US commerce chief says China export controls will hit companies' revenue

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[1/2] Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration WASHINGTON, July 26 (Reuters) – Commerce Secretary Gina Raimondo said on Wednesday the Biden administration is seeking to carefully target U.S. 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,…

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