US Businesses Could Lose Billions From Export Controls on Emerging Tech, ITIF Says
The Trump administration's decision to examine emerging technologies as candidates for export controls could cost U.S. businesses tens of billions of dollars and threaten thousands of jobs, the Information Technology & Innovation Foundation reported, in an email Monday. If substantial…
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export controls are enacted, ITIF said firms “could lose $14.1 billion to $56.3 billion in export sales over five years." The Commerce Department Bureau of Industry and Security seeks to expand export controls to technologies that are or may soon be essential to national security but aren't export-regulated. A Nov. 19 Federal Register notice sought feedback from companies on “identifying emerging technologies,” including products such as artificial intelligence and machine learning technology." ITIF warned of the harm that it said could result if Commerce defines “an overly restrictive set” of technologies, saying that could “significantly impede competitiveness of certain U.S. industries and stifle their “output, exports and employment growth.”