Interview: Chris Miller, historian and author of "Chip War"

This is an interview with Chris Miller, a Tufts University historian and author of "Chip War," conducted by N.S. about U.S. semiconductor export controls and China's chip industry. Miller says the controls were a plausible way to slow China's military-relevant computing, citing China's progress at YMTC and the failure of sanctions to deter Russia. He argues that China's push to end reliance on the U.S. predates the controls, which Xi and other leaders articulated from at least 2014, and that replicating ASML's lithography tools would be extremely difficult. He also says the CHIPS Act's investment tax credit, which expires at the end of 2026, will strongly affect U.S. fab costs.